Canadian Imperial Bank of Commerce (NYSE:CM) is Value Partners Investments Inc.'s 9th Largest Position

Value Partners Investments Inc. grew its holdings in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 952.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 871,700 shares of the bank's stock after purchasing an additional 788,894 shares during the quarter. Canadian Imperial Bank of Commerce accounts for about 4.2% of Value Partners Investments Inc.'s holdings, making the stock its 9th biggest holding. Value Partners Investments Inc. owned about 0.09% of Canadian Imperial Bank of Commerce worth $49,085,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. lifted its stake in Canadian Imperial Bank of Commerce by 123.9% in the first quarter. Bessemer Group Inc. now owns 158,028 shares of the bank's stock worth $8,898,000 after acquiring an additional 87,439 shares during the last quarter. Strategic Investment Advisors MI purchased a new position in Canadian Imperial Bank of Commerce in the first quarter worth approximately $297,000. Oppenheimer & Co. Inc. lifted its stake in Canadian Imperial Bank of Commerce by 1.7% in the first quarter. Oppenheimer & Co. Inc. now owns 21,770 shares of the bank's stock worth $1,226,000 after acquiring an additional 360 shares during the last quarter. Hudson Value Partners LLC purchased a new position in Canadian Imperial Bank of Commerce in the first quarter worth approximately $708,000. Finally, Lorne Steinberg Wealth Management Inc. lifted its stake in Canadian Imperial Bank of Commerce by 2.0% in the first quarter. Lorne Steinberg Wealth Management Inc. now owns 164,569 shares of the bank's stock worth $9,267,000 after acquiring an additional 3,235 shares during the last quarter. Hedge funds and other institutional investors own 49.88% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on CM shares. Wall Street Zen upgraded shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. National Bank Financial downgraded shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. BMO Capital Markets boosted their price objective 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. Scotiabank began coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They set a "sector outperform" rating for the company. Finally, Jefferies Financial Group downgraded shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of "Moderate Buy" and an average target price of $109.00.

Canadian Imperial Bank of Commerce Stock Down 1.3%

Shares of NYSE:CM traded down $0.90 during trading on Friday, hitting $69.67. 1,602,661 shares of the company were exchanged, compared to its average volume of 1,142,623. The firm's 50 day moving average price is $66.21 and its 200-day moving average price is $62.49. Canadian Imperial Bank of Commerce has a 12-month low of $47.11 and a 12-month high of $70.96. The stock has a market capitalization of $65.49 billion, a P/E ratio of 12.24, a PEG ratio of 1.51 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 (NYSE:CM - Get Free Report) TSE: CM last released its quarterly earnings results on Thursday, May 29th. The bank reported $1.44 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the prior year, the firm earned $1.75 EPS. Canadian Imperial Bank of Commerce's revenue for the quarter was up 13.9% on a year-over-year basis. On average, research analysts predict 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 Monday, July 28th. Investors of record on Friday, June 27th will be given 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 annualized dividend and a yield of 4.03%. Canadian Imperial Bank of Commerce's dividend payout ratio is 49.56%.

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.