MQS Management LLC Acquires Shares of 9,516 Canadian Imperial Bank of Commerce (NYSE:CM)

MQS Management LLC acquired a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,516 shares of the bank's stock, valued at approximately $536,000.

Several other institutional investors and hedge funds also recently modified their holdings of CM. PDS Planning Inc increased its stake in Canadian Imperial Bank of Commerce by 3.8% during the 4th quarter. PDS Planning Inc now owns 5,167 shares of the bank's stock worth $327,000 after buying an additional 189 shares during the period. Gradient Investments LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 2.4% during the first quarter. Gradient Investments LLC now owns 8,278 shares of the bank's stock valued at $466,000 after acquiring an additional 191 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Canadian Imperial Bank of Commerce by 4.9% during the fourth 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 last quarter. Private Trust Co. NA lifted its stake in shares of Canadian Imperial Bank of Commerce by 40.0% in the first quarter. Private Trust Co. NA now owns 781 shares of the bank's stock worth $44,000 after acquiring an additional 223 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in Canadian Imperial Bank of Commerce by 7.5% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,977 shares of the bank's stock valued at $251,000 after purchasing an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 49.88% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CM. Scotiabank began coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They issued a "sector outperform" rating for the company. BMO Capital Markets lifted their price target on 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. Royal Bank Of Canada upped their price objective on Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Jefferies Financial Group downgraded Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Monday, April 21st. Finally, National Bank Financial downgraded Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $109.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM opened at $73.08 on Monday. The stock has a market cap of $68.70 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 1.58 and a beta of 1.05. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a 12 month low of $47.55 and a 12 month high of $73.52. The stock's 50 day moving average price is $68.35 and its 200 day moving average price is $63.00.

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 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $4.78 billion. During the same period in the previous year, the business earned $1.75 earnings per share. Canadian Imperial Bank of Commerce's revenue for the quarter was up 13.9% compared to the same quarter last year. Equities research analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be given 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 dividend yield of 3.84%. Canadian Imperial Bank of Commerce's payout ratio is 49.56%.

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.

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