First Bank & Trust Decreases Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

First Bank & Trust lessened its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 14.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,052 shares of the bank's stock after selling 5,277 shares during the period. First Bank & Trust's holdings in Canadian Imperial Bank of Commerce were worth $1,748,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Canadian Imperial Bank of Commerce by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 39,385,238 shares of the bank's stock worth $2,491,431,000 after buying an additional 749,843 shares during the last quarter. TD Asset Management Inc. lifted its stake in Canadian Imperial Bank of Commerce by 3.7% during the fourth quarter. TD Asset Management Inc. now owns 23,600,495 shares of the bank's stock worth $1,492,138,000 after purchasing an additional 851,164 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Canadian Imperial Bank of Commerce by 1.1% in the fourth quarter. Toronto Dominion Bank now owns 22,138,015 shares of the bank's stock valued at $1,398,619,000 after purchasing an additional 234,088 shares in the last quarter. FIL Ltd increased its stake in Canadian Imperial Bank of Commerce by 53.6% in the fourth quarter. FIL Ltd now owns 12,387,607 shares of the bank's stock valued at $783,613,000 after purchasing an additional 4,321,451 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in Canadian Imperial Bank of Commerce by 1.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,757,382 shares of the bank's stock worth $679,613,000 after purchasing an additional 115,884 shares in 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 $0.35 during trading hours on Friday, reaching $72.06. 694,837 shares of the company traded hands, compared to its average volume of 1,145,752. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05. The firm's 50-day moving average is $67.37 and its 200-day moving average is $62.72. The stock has a market cap of $67.75 billion, a P/E ratio of 12.66, a P/E/G ratio of 1.57 and a beta of 1.05. Canadian Imperial Bank of Commerce has a 1-year low of $47.55 and a 1-year high of $72.17.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last issued its quarterly earnings results on Thursday, May 29th. The bank reported $1.44 earnings per share for the quarter, beating 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 previous year, the firm posted $1.75 EPS. Canadian Imperial Bank of Commerce's revenue was up 13.9% on a year-over-year basis. Equities research analysts expect that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be paid a dividend of $0.7024 per share. The ex-dividend date is Friday, June 27th. 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 dividend yield of 3.90%. Canadian Imperial Bank of Commerce's payout ratio is currently 49.56%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Wall Street Zen raised Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Scotiabank initiated coverage on Canadian Imperial Bank of Commerce in a report on Thursday, May 15th. They set a "sector outperform" rating for the company. Royal Bank Of Canada upped their target price 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. Finally, BMO Capital Markets boosted their price objective on shares of Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. 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, Canadian Imperial Bank of Commerce has an average rating of "Moderate Buy" and a consensus target price 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.