Cidel Asset Management Inc. Has $24.96 Million Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Cidel Asset Management Inc. lessened its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 1.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 443,822 shares of the bank's stock after selling 4,967 shares during the quarter. Canadian Imperial Bank of Commerce makes up 1.6% of Cidel Asset Management Inc.'s investment portfolio, making the stock its 18th largest holding. Cidel Asset Management Inc.'s holdings in Canadian Imperial Bank of Commerce were worth $24,963,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CM. Operose Advisors LLC acquired a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth $26,000. SBI Securities Co. Ltd. acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at $30,000. Sandy Spring Bank bought a new stake in Canadian Imperial Bank of Commerce in the fourth quarter worth $32,000. IFP Advisors Inc boosted its holdings in Canadian Imperial Bank of Commerce by 318.1% in the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank's stock worth $34,000 after purchasing an additional 404 shares in the last quarter. Finally, Lee Danner & Bass Inc. acquired a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth $44,000. Institutional investors and hedge funds own 49.88% of the company's stock.

Wall Street Analysts Forecast Growth

CM has been the topic of several analyst reports. National Bank Financial downgraded Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Royal Bank Of Canada raised their target price on shares of Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Jefferies Financial Group lowered shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Finally, Scotiabank assumed coverage on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 15th. They set a "sector outperform" rating for the company. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $109.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock traded up $0.35 during midday trading on Friday, hitting $72.06. The company had a trading volume of 694,837 shares, compared to its average volume of 1,143,583. Canadian Imperial Bank of Commerce has a 1-year low of $47.55 and a 1-year high of $72.17. The business's 50 day simple moving average is $67.37 and its two-hundred day simple moving average is $62.72. The stock has a market cap of $67.75 billion, a PE ratio of 12.66, a P/E/G ratio of 1.57 and a beta of 1.05. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last posted 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. The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.78 billion. Canadian Imperial Bank of Commerce had a net margin of 12.19% and a return on equity of 14.51%. The business's quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the business posted $1.75 EPS. As a group, equities analysts predict 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 will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be given a $0.7024 dividend. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. This represents a $2.81 annualized dividend and a yield of 3.90%. The ex-dividend date is Friday, June 27th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 49.56%.

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.