CenterBook Partners LP Purchases New Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

CenterBook Partners LP purchased a new stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 23,647 shares of the bank's stock, valued at approximately $1,331,000.

Several other institutional investors have also bought and sold shares of the stock. PDS Planning Inc boosted its stake in Canadian Imperial Bank of Commerce by 3.8% in the 4th quarter. PDS Planning Inc now owns 5,167 shares of the bank's stock valued at $327,000 after buying an additional 189 shares in the last quarter. Gradient Investments LLC boosted its stake in Canadian Imperial Bank of Commerce by 2.4% in the 1st quarter. Gradient Investments LLC now owns 8,278 shares of the bank's stock valued at $466,000 after buying an additional 191 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Canadian Imperial Bank of Commerce by 4.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank's stock worth $255,000 after purchasing an additional 194 shares in the last quarter. Private Trust Co. NA boosted its stake in Canadian Imperial Bank of Commerce by 40.0% in the first quarter. Private Trust Co. NA now owns 781 shares of the bank's stock worth $44,000 after purchasing an additional 223 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in Canadian Imperial Bank of Commerce by 7.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,977 shares of the bank's stock worth $251,000 after purchasing an additional 279 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Trading Up 0.4%

NYSE CM traded up $0.27 on Friday, reaching $73.29. The company had a trading volume of 742,666 shares, compared to its average volume of 1,123,321. The stock's 50 day moving average is $69.04 and its 200-day moving average is $63.26. The stock has a market cap of $68.40 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 1.57 and a beta of 1.05. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16. Canadian Imperial Bank of Commerce has a 52 week low of $47.55 and a 52 week high of $73.52.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last announced its quarterly earnings results on Thursday, May 29th. The bank reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.10. Canadian Imperial Bank of Commerce had a return on equity of 14.51% and a net margin of 12.19%. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period in the prior year, the company earned $1.75 earnings per share. The company's revenue for the quarter was up 13.9% compared to the same quarter last year. Equities analysts predict that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, June 27th will be issued a $0.7024 dividend. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. This represents a $2.81 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Friday, June 27th. Canadian Imperial Bank of Commerce's dividend payout ratio is 49.56%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. BMO Capital Markets boosted their price objective on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Wall Street Zen raised Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research note 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. Royal Bank Of Canada boosted their price objective on 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. Finally, Scotiabank began coverage on Canadian Imperial Bank of Commerce in a research note on Thursday, May 15th. They issued a "sector outperform" rating on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of "Moderate Buy" and a consensus price target of $109.00.

Canadian Imperial Bank of Commerce Company 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.