Canadian Imperial Bank of Commerce (NYSE:CM) Stock Holdings Increased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 4.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 116,110 shares of the bank's stock after purchasing an additional 4,996 shares during the quarter. Massachusetts Financial Services Co. MA's holdings in Canadian Imperial Bank of Commerce were worth $6,537,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CM. Operose Advisors LLC acquired a new stake in Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $26,000. Sandy Spring Bank purchased a new stake in Canadian Imperial Bank of Commerce during the 4th quarter worth $32,000. TruNorth Capital Management LLC increased its stake in Canadian Imperial Bank of Commerce by 156.0% during the 1st quarter. TruNorth Capital Management LLC now owns 512 shares of the bank's stock worth $29,000 after buying an additional 312 shares during the period. HM Payson & Co. purchased a new stake in Canadian Imperial Bank of Commerce during the 1st quarter worth $29,000. Finally, Lee Danner & Bass Inc. purchased a new stake in Canadian Imperial Bank of Commerce during the 4th quarter worth $44,000. Institutional investors and hedge funds own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM traded down $0.16 during trading on Wednesday, reaching $74.26. The company had a trading volume of 892,678 shares, compared to its average volume of 1,141,368. The firm's fifty day moving average is $69.80 and its 200 day moving average is $63.56. The firm has a market capitalization of $69.18 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 1.61 and a beta of 1.05. Canadian Imperial Bank of Commerce has a twelve month low of $47.55 and a twelve month high of $74.63. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05.

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 analysts' consensus estimates of $1.34 by $0.10. Canadian Imperial Bank of Commerce had a net margin of 12.19% and a return on equity of 14.51%. 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 prior year, the company earned $1.75 EPS. Canadian Imperial Bank of Commerce's revenue was up 13.9% on a year-over-year basis. On average, equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.7024 per share. The ex-dividend date of this dividend is Friday, June 27th. This is a positive change 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 3.78%. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 49.56%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CM. Royal Bank Of Canada lifted their price target 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. Wall Street Zen lowered shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Scotiabank began coverage on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 15th. They issued a "sector outperform" rating for the company. 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. Finally, BMO Capital Markets lifted their price target on shares of Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus 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.