Canadian Imperial Bank of Commerce (NYSE:CM) Stock Holdings Increased by Federated Hermes Inc.

Federated Hermes Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 3.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 988,399 shares of the bank's stock after buying 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.

Several other institutional investors have also made changes to their positions in the company. Operose Advisors LLC bought a new position in Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $26,000. HM Payson & Co. bought a new stake in Canadian Imperial Bank of Commerce in the 1st quarter valued at approximately $29,000. TruNorth Capital Management LLC boosted its holdings in Canadian Imperial Bank of Commerce by 156.0% during the first quarter. TruNorth Capital Management LLC now owns 512 shares of the bank's stock worth $29,000 after purchasing an additional 312 shares during the last quarter. Private Trust Co. NA raised its stake in shares of Canadian Imperial Bank of Commerce by 40.0% during the 1st 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, Farther Finance Advisors LLC increased its stake in shares of Canadian Imperial Bank of Commerce by 51.1% during the 1st quarter. Farther Finance Advisors LLC now owns 902 shares of the bank's stock worth $51,000 after purchasing an additional 305 shares during the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Price Performance

NYSE CM traded up $0.66 during trading hours on Monday, reaching $72.44. The company's stock had a trading volume of 139,940 shares, compared to its average volume of 1,174,543. The company has a market capitalization of $67.48 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.56 and a beta of 1.06. The firm's 50-day moving average price is $70.63 and its 200-day moving average price is $64.07. 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 1 year low of $47.55 and a 1 year high of $74.63.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last posted its quarterly earnings data on Thursday, May 29th. The bank reported $1.44 EPS for the quarter, topping the consensus estimate of $1.34 by $0.10. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.75 earnings per share. On average, equities research 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 business also recently disclosed a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Friday, June 27th were issued a dividend of $0.7024 per share. The ex-dividend date of this dividend was 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 yield of 3.9%. Canadian Imperial Bank of Commerce's dividend payout ratio is 49.56%.

Analyst Ratings Changes

Several research firms have weighed in on CM. Jefferies Financial Group cut shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Monday, April 21st. Wall Street Zen cut shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. National Bank Financial downgraded shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. Scotiabank started coverage on Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They set a "sector outperform" rating on the stock. Finally, BMO Capital Markets raised their price objective on 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of "Hold" and an average price target 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.