GAMMA Investing LLC Boosts Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

GAMMA Investing LLC boosted its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 5,530.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,437 shares of the bank's stock after buying an additional 20,074 shares during the period. GAMMA Investing LLC's holdings in Canadian Imperial Bank of Commerce were worth $1,151,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its stake in Canadian Imperial Bank of Commerce by 195.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 227,989 shares of the bank's stock worth $14,404,000 after purchasing an additional 150,789 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Canadian Imperial Bank of Commerce by 12.6% in the 4th quarter. Rhumbline Advisers now owns 3,622 shares of the bank's stock valued at $229,000 after buying an additional 404 shares during the period. Allworth Financial LP lifted its stake in Canadian Imperial Bank of Commerce by 255.6% during the 4th quarter. Allworth Financial LP now owns 1,120 shares of the bank's stock worth $71,000 after acquiring an additional 805 shares in the last quarter. Lorne Steinberg Wealth Management Inc. boosted its holdings in Canadian Imperial Bank of Commerce by 1.1% during the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 161,334 shares of the bank's stock valued at $10,195,000 after acquiring an additional 1,740 shares during the period. Finally, Alberta Investment Management Corp grew its position in Canadian Imperial Bank of Commerce by 74.4% in the 4th quarter. Alberta Investment Management Corp now owns 1,572,963 shares of the bank's stock valued at $99,450,000 after acquiring an additional 671,028 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Stock Down 0.2%

NYSE CM traded down $0.16 on Thursday, hitting $68.44. 958,708 shares of the stock were exchanged, compared to its average volume of 1,106,814. Canadian Imperial Bank of Commerce has a fifty-two week low of $47.11 and a fifty-two week high of $69.88. The company has a 50-day moving average price of $64.59 and a 200-day moving average price of $62.34. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16. The company has a market cap of $64.34 billion, a PE ratio of 12.03, a PEG ratio of 1.49 and a beta of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last posted its earnings results on Thursday, May 29th. The bank reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.10. The firm had revenue of $5.09 billion during the quarter, compared to analysts' expectations of $4.78 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.51% and a net margin of 12.19%. The firm's revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.75 earnings per share. Sell-side analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be issued a $0.7024 dividend. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. The ex-dividend date is Friday, June 27th. This represents a $2.81 annualized dividend and a dividend yield of 4.11%. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 49.56%.

Analyst Upgrades and Downgrades

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