Strategic Investment Advisors MI Takes Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Strategic Investment Advisors MI 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 disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,272 shares of the bank's stock, valued at approximately $297,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Operose Advisors LLC bought a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth $26,000. SBI Securities Co. Ltd. bought a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth $30,000. Sandy Spring Bank bought a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth $32,000. IFP Advisors Inc lifted its position in shares of Canadian Imperial Bank of Commerce by 318.1% in the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank's stock worth $34,000 after purchasing an additional 404 shares in the last quarter. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth $44,000. Institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Stock Performance

NYSE CM traded down $0.90 on Friday, hitting $69.67. 1,602,661 shares of the stock were exchanged, compared to its average volume of 1,142,623. Canadian Imperial Bank of Commerce has a 52 week low of $47.11 and a 52 week high of $70.96. The company has a market capitalization of $65.49 billion, a PE ratio of 12.24, a P/E/G ratio of 1.51 and a beta of 1.05. The business's fifty day moving average is $66.21 and its 200 day moving average is $62.49. 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 (NYSE:CM - Get Free Report) TSE: CM last issued its quarterly earnings data on Thursday, May 29th. The bank reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.10. The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.78 billion. Canadian Imperial Bank of Commerce had a net margin of 12.19% and a return on equity of 14.51%. The company's revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.75 earnings per share. Research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be given a $0.7024 dividend. 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 annualized dividend and a dividend yield of 4.03%. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 49.56%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CM shares. Jefferies Financial Group lowered shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Royal Bank Of Canada upped 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 report on Friday, May 30th. Scotiabank started coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They set a "sector outperform" rating on the stock. BMO Capital Markets upped 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 report on Friday, May 30th. Finally, Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of "Moderate Buy" and a consensus target price of $109.00.

Canadian Imperial Bank of Commerce Company 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.