Intech Investment Management LLC Has $15.52 Million Stock Holdings in Canadian Imperial Bank of Commerce $CM

Key Points

• Intech Investment Management LLC increased its stake in Canadian Imperial Bank of Commerce by 64.4% during the first quarter, acquiring an additional 108,110 shares for a total of 275,959 shares valued at approximately $15.5 million.
• Goldman Sachs Group Inc. drastically boosted its holdings in the bank by 405.5%, owning now over 5.1 million shares valued at nearly $292 million.
• Canadian Imperial Bank of Commerce recently announced a quarterly dividend increase to $0.97 per share, reflecting a solid 5.0% dividend yield after raising it from the previous quarter's $0.70.

Intech Investment Management LLC grew its position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 64.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 275,959 shares of the bank's stock after purchasing an additional 108,110 shares during the period. Intech Investment Management LLC's holdings in Canadian Imperial Bank of Commerce were worth $15,521,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Gradient Investments LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 2.4% in the 1st quarter. Gradient Investments LLC now owns 8,278 shares of the bank's stock worth $466,000 after acquiring an additional 191 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 4.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank's stock worth $255,000 after acquiring an additional 194 shares during the period. Benjamin Edwards Inc. lifted its stake in shares of Canadian Imperial Bank of Commerce by 5.3% in the 1st quarter. Benjamin Edwards Inc. now owns 4,320 shares of the bank's stock worth $243,000 after acquiring an additional 216 shares during the period. Private Trust Co. NA lifted its stake in shares of Canadian Imperial Bank of Commerce by 40.0% in the 1st quarter. Private Trust Co. NA now owns 781 shares of the bank's stock worth $44,000 after acquiring an additional 223 shares during the period. Finally, PDS Planning Inc lifted its stake in shares of Canadian Imperial Bank of Commerce by 5.2% in the 1st quarter. PDS Planning Inc now owns 5,438 shares of the bank's stock worth $306,000 after acquiring an additional 271 shares during the period. Institutional investors own 49.88% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CM shares. Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Royal Bank Of Canada increased their target price on shares of Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. BMO Capital Markets increased their target price on shares of 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. Finally, National Bank Financial lowered shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.50.

Canadian Imperial Bank of Commerce Trading Up 0.4%

Shares of NYSE:CM traded up $0.29 during mid-day trading on Monday, hitting $79.45. The stock had a trading volume of 315,349 shares, compared to its average volume of 1,181,612. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $73.85 billion, a PE ratio of 13.42, a P/E/G ratio of 1.71 and a beta of 1.03. Canadian Imperial Bank of Commerce has a 12-month low of $53.62 and a 12-month high of $79.67. The company's 50 day moving average is $74.24 and its 200-day moving average is $66.79.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last issued its quarterly earnings results on Thursday, August 28th. The bank reported $1.57 EPS for the quarter, beating the consensus estimate of $1.43 by $0.14. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.12 billion. Canadian Imperial Bank of Commerce had a net margin of 12.94% and a return on equity of 14.67%. The firm's quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.93 EPS. On average, sell-side analysts predict that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 28th. Investors of record on Monday, September 29th will be given a $0.97 dividend. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.70. The ex-dividend date is Monday, September 29th. This represents a $3.88 annualized dividend and a dividend yield of 4.9%. Canadian Imperial Bank of Commerce's payout ratio is currently 47.64%.

About Canadian Imperial Bank of Commerce

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.