Shell Asset Management Co. Increases Stake in Canadian Imperial Bank of Commerce $CM

Shell Asset Management Co. increased its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 120.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,362 shares of the bank's stock after buying an additional 25,870 shares during the period. Shell Asset Management Co.'s holdings in Canadian Imperial Bank of Commerce were worth $3,355,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. HM Payson & Co. purchased a new position in shares of Canadian Imperial Bank of Commerce during the first quarter valued at $29,000. TruNorth Capital Management LLC grew its stake in Canadian Imperial Bank of Commerce by 156.0% in the first quarter. TruNorth Capital Management LLC now owns 512 shares of the bank's stock valued at $29,000 after purchasing an additional 312 shares during the last quarter. Truvestments Capital LLC purchased a new position in Canadian Imperial Bank of Commerce in the first quarter valued at about $32,000. Ameritas Advisory Services LLC purchased a new position in Canadian Imperial Bank of Commerce in the second quarter valued at about $34,000. Finally, Private Trust Co. NA grew its stake in 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 valued at $44,000 after purchasing an additional 223 shares during the last quarter. Hedge funds and other institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM stock opened at $81.61 on Wednesday. Canadian Imperial Bank of Commerce has a fifty-two week low of $53.62 and a fifty-two week high of $82.23. The firm has a market capitalization of $75.86 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.74 and a beta of 1.03. 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 stock's 50-day simple moving average is $76.83 and its 200-day simple moving average is $69.53.

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 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. Canadian Imperial Bank of Commerce had a return on equity of 14.67% and a net margin of 12.94%.The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.12 billion. During the same quarter in the previous year, the firm earned $1.93 earnings per share. The company's revenue was up 3.3% on a year-over-year basis. As a group, equities analysts forecast 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 28th. Stockholders of record on Monday, September 29th will be paid a dividend of $0.97 per share. The ex-dividend date is Monday, September 29th. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.70. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.8%. Canadian Imperial Bank of Commerce's payout ratio is presently 47.64%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of Canadian Imperial Bank of Commerce in a research note on Saturday, September 27th. Royal Bank Of Canada lifted their target price on 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. Finally, Wall Street Zen lowered Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research note on Saturday. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $107.50.

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.

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