Canadian Imperial Bank of Commerce (NYSE:CM) is Cardinal Capital Management Inc.'s 10th Largest Position

Cardinal Capital Management Inc. lowered its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 2.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,856,161 shares of the bank's stock after selling 38,612 shares during the period. Canadian Imperial Bank of Commerce makes up approximately 3.5% of Cardinal Capital Management Inc.'s investment portfolio, making the stock its 10th biggest position. Cardinal Capital Management Inc. owned 0.20% of Canadian Imperial Bank of Commerce worth $104,458,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CM. JPMorgan Chase & Co. increased its position in Canadian Imperial Bank of Commerce by 6.1% during the third quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank's stock valued at $359,320,000 after acquiring an additional 334,545 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Canadian Imperial Bank of Commerce by 12.6% during the 4th quarter. Rhumbline Advisers now owns 3,622 shares of the bank's stock worth $229,000 after purchasing an additional 404 shares during the period. American Century Companies Inc. grew its holdings in Canadian Imperial Bank of Commerce by 8.5% during the 4th quarter. American Century Companies Inc. now owns 299,211 shares of the bank's stock valued at $18,927,000 after purchasing an additional 23,403 shares during the last quarter. Capital International Investors bought a new position in Canadian Imperial Bank of Commerce during the 4th quarter valued at about $424,386,000. Finally, Mackenzie Financial Corp raised its position in Canadian Imperial Bank of Commerce by 41.1% in the 4th quarter. Mackenzie Financial Corp now owns 6,835,795 shares of the bank's stock worth $431,952,000 after purchasing an additional 1,990,520 shares during the period. Hedge funds and other institutional investors own 49.88% of the company's stock.

Wall Street Analyst Weigh In

CM has been the topic of a number of analyst reports. Scotiabank initiated coverage on Canadian Imperial Bank of Commerce in a research note on Thursday, May 15th. They set a "sector outperform" rating on the stock. Wall Street Zen raised Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. National Bank Financial lowered Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. BMO Capital Markets boosted their target price on shares of Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Finally, Royal Bank of Canada raised their price target on shares of Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of "Moderate Buy" and a consensus target price of $109.00.

Canadian Imperial Bank of Commerce Stock Down 0.4%

NYSE CM traded down $0.24 on Wednesday, reaching $68.26. 123,598 shares of the stock traded hands, compared to its average volume of 1,116,426. Canadian Imperial Bank of Commerce has a 12 month low of $46.99 and a 12 month high of $69.88. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The company has a fifty day moving average price of $63.10 and a 200-day moving average price of $62.17. The company has a market cap of $64.17 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 1.62 and a beta of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last released its quarterly earnings data on Thursday, May 29th. The bank reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.10. Canadian Imperial Bank of Commerce had a return on equity of 14.01% and a net margin of 11.10%. The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the previous year, the company posted $1.75 earnings per share. The firm's quarterly revenue was up 13.9% on a year-over-year basis. As a group, research analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be paid a dividend of $0.7024 per share. The ex-dividend date of this dividend is Friday, June 27th. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. This represents a $2.81 dividend on an annualized basis and a dividend yield of 4.12%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is currently 49.56%.

Canadian Imperial Bank of Commerce Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.