SG Americas Securities LLC purchased a new stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,414 shares of the bank's stock, valued at approximately $530,000.
Other institutional investors have also recently made changes to their positions in the company. Operose Advisors LLC bought a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at about $26,000. SBI Securities Co. Ltd. purchased a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at $30,000. Sandy Spring Bank purchased a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at $32,000. IFP Advisors Inc increased its position in shares of Canadian Imperial Bank of Commerce by 318.1% during the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank's stock valued at $34,000 after purchasing an additional 404 shares during the last quarter. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at $44,000. Institutional investors own 49.88% of the company's stock.
Canadian Imperial Bank of Commerce Trading Up 0.8%
Shares of Canadian Imperial Bank of Commerce stock traded up $0.59 during midday trading on Tuesday, reaching $70.25. 1,242,641 shares of the company's stock traded hands, compared to its average volume of 1,103,131. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $66.04 billion, a PE ratio of 12.35, a price-to-earnings-growth ratio of 1.51 and a beta of 1.05. The stock has a 50 day moving average of $65.30 and a 200-day moving average of $62.39. Canadian Imperial Bank of Commerce has a 12 month low of $47.11 and a 12 month high of $70.86.
Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last announced its earnings results on Thursday, May 29th. The bank reported $1.44 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.10. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.75 earnings per share. As a group, equities analysts expect that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal 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 issued a $0.7024 dividend. This is an increase 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 dividend on an annualized basis and a yield of 4.00%. Canadian Imperial Bank of Commerce's dividend payout ratio is 47.10%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on CM shares. National Bank Financial lowered Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. BMO Capital Markets boosted their price objective on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. 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 began coverage on Canadian Imperial Bank of Commerce in a research note on Thursday, May 15th. They issued a "sector outperform" rating for the company. Finally, Royal Bank Of Canada increased 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. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of "Moderate Buy" and a consensus price target of $109.00.
Check Out Our Latest Research Report on CM
Canadian Imperial Bank of Commerce Company Profile
(
Free Report)
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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