Versant Capital Management Inc Grows Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Versant Capital Management Inc increased its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 607.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,131 shares of the bank's stock after acquiring an additional 4,406 shares during the period. Versant Capital Management Inc's holdings in Canadian Imperial Bank of Commerce were worth $289,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in Canadian Imperial Bank of Commerce by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank's stock worth $359,320,000 after buying an additional 334,545 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Canadian Imperial Bank of Commerce by 5.7% during the 4th quarter. Fifth Third Bancorp now owns 4,971 shares of the bank's stock worth $314,000 after buying an additional 270 shares during the last quarter. Blue Trust Inc. raised its position in Canadian Imperial Bank of Commerce by 132.0% in the fourth quarter. Blue Trust Inc. now owns 1,698 shares of the bank's stock valued at $104,000 after purchasing an additional 966 shares during the period. Crews Bank & Trust acquired a new position in Canadian Imperial Bank of Commerce in the fourth quarter valued at about $25,000. Finally, Mediolanum International Funds Ltd acquired a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at approximately $2,935,000. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock traded down $0.23 during trading on Monday, hitting $67.71. 1,354,212 shares of the company were exchanged, compared to its average volume of 1,127,105. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $63.66 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 1.62 and a beta of 1.06. Canadian Imperial Bank of Commerce has a fifty-two week low of $46.99 and a fifty-two week high of $69.88. The firm has a 50 day moving average price of $61.57 and a 200 day moving average price of $61.97.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last posted its quarterly earnings data on Thursday, May 29th. The bank reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.10. Canadian Imperial Bank of Commerce had a return on equity of 14.01% and a net margin of 11.10%. The business had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $4.78 billion. During the same quarter last year, the firm earned $1.75 earnings per share. The business's revenue was up 13.9% on a year-over-year basis. On average, equities analysts expect 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 company also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be issued a dividend of $0.7024 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 4.15%. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. Canadian Imperial Bank of Commerce's payout ratio is presently 47.28%.

Analyst Upgrades and Downgrades

A number of analysts have 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 cut shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research report on Friday. Jefferies Financial Group cut shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Monday, April 21st. BMO Capital Markets lifted their target price on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the company an "outperform" rating in a research note on Friday. Finally, Scotiabank assumed 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. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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.