Canadian Imperial Bank of Commerce (NYSE:CM) Shares Purchased by Federated Hermes Inc.

Federated Hermes Inc. boosted its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 988,399 shares of the bank's stock after purchasing an additional 29,387 shares during the period. Federated Hermes Inc. owned about 0.11% of Canadian Imperial Bank of Commerce worth $55,647,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Prudential Financial Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 16.1% during the fourth quarter. Prudential Financial Inc. now owns 37,295 shares of the bank's stock valued at $2,358,000 after purchasing an additional 5,185 shares in the last quarter. Blair William & Co. IL grew its position in Canadian Imperial Bank of Commerce by 7.3% during the 4th quarter. Blair William & Co. IL now owns 5,658 shares of the bank's stock valued at $358,000 after purchasing an additional 383 shares during the last quarter. Orion Portfolio Solutions LLC grew its position in Canadian Imperial Bank of Commerce by 6.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 16,921 shares of the bank's stock valued at $1,070,000 after purchasing an additional 986 shares during the last quarter. Wellington Management Group LLP grew its position in Canadian Imperial Bank of Commerce by 21.4% during the 4th quarter. Wellington Management Group LLP now owns 210,127 shares of the bank's stock valued at $13,285,000 after purchasing an additional 37,015 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 11.0% during the 4th quarter. Franklin Resources Inc. now owns 978,161 shares of the bank's stock valued at $61,797,000 after acquiring an additional 97,323 shares during the last quarter. Hedge funds and other institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Trading Up 0.5%

Shares of NYSE CM traded up $0.36 during mid-day trading on Friday, reaching $71.80. The company had a trading volume of 989,853 shares, compared to its average volume of 1,294,064. The business's 50-day moving average is $70.63 and its 200-day moving average is $64.05. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.16. The stock has a market cap of $66.88 billion, a price-to-earnings ratio of 12.62, a price-to-earnings-growth ratio of 1.55 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 52 week low of $47.55 and a 52 week high of $74.63.

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, topping analysts' consensus estimates of $1.34 by $0.10. The company had revenue of $5.09 billion during 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 firm's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.75 earnings per share. Equities analysts expect 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 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. 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 yield of 3.9%. The ex-dividend date was Friday, June 27th. Canadian Imperial Bank of Commerce's payout ratio is currently 49.56%.

Analyst Ratings Changes

A number of analysts have recently issued reports on CM shares. National Bank Financial downgraded shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. 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 stock an "outperform" rating in a research note on Friday, May 30th. BMO Capital Markets increased their price objective on shares of Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Jefferies Financial Group cut 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 initiated coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They issued a "sector outperform" rating on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of "Hold" and a consensus target price of $109.00.

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.