Charles Schwab Investment Management Inc. Has $142.78 Million Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 0.5% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,538,473 shares of the bank's stock after purchasing an additional 11,700 shares during the period. Charles Schwab Investment Management Inc. owned 0.27% of Canadian Imperial Bank of Commerce worth $142,776,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CM. Renaissance Technologies LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 38.2% during the fourth quarter. Renaissance Technologies LLC now owns 426,728 shares of the bank's stock worth $26,982,000 after purchasing an additional 117,900 shares during the last quarter. Raymond James Financial Inc. bought a new position in Canadian Imperial Bank of Commerce in the fourth quarter valued at about $24,997,000. Townsquare Capital LLC bought a new position in Canadian Imperial Bank of Commerce in the fourth quarter valued at about $238,000. BTG Pactual Asset Management US LLC bought a new position in Canadian Imperial Bank of Commerce in the fourth quarter valued at about $1,271,000. Finally, Barclays PLC boosted its holdings in Canadian Imperial Bank of Commerce by 106.4% in the fourth quarter. Barclays PLC now owns 49,885 shares of the bank's stock valued at $3,154,000 after acquiring an additional 25,712 shares during the last quarter. Institutional investors own 49.88% of the company's stock.

Wall Street Analysts Forecast Growth

CM has been the topic of several recent research reports. Royal Bank Of Canada raised their price target on Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Monday, April 21st. Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. BMO Capital Markets raised their target price on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Finally, Scotiabank started coverage on Canadian Imperial Bank of Commerce in a report on Thursday, May 15th. They set a "sector outperform" rating on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $109.00.

Canadian Imperial Bank of Commerce Stock Up 0.6%

Canadian Imperial Bank of Commerce stock traded up $0.43 during midday trading on Thursday, reaching $73.78. The stock had a trading volume of 709,046 shares, compared to its average volume of 1,172,831. The firm's fifty day simple moving average is $71.37 and its 200-day simple moving average is $64.58. Canadian Imperial Bank of Commerce has a 1-year low of $51.44 and a 1-year high of $74.63. The stock has a market capitalization of $68.72 billion, a P/E ratio of 12.97, a price-to-earnings-growth ratio of 1.58 and a beta of 1.06. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last announced its earnings results on Thursday, May 29th. The bank reported $1.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the firm earned $1.75 EPS. Canadian Imperial Bank of Commerce's revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, analysts expect that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 28th. Investors of record on Friday, June 27th were given a $0.7024 dividend. The ex-dividend date of this dividend was Friday, June 27th. This represents a $2.81 dividend on an annualized basis and a yield of 3.8%. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. Canadian Imperial Bank of Commerce's payout ratio is 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.