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

World Investment Advisors acquired a new stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 4,390 shares of the bank's stock, valued at approximately $247,000.

Several other hedge funds also recently modified their holdings of the stock. Checchi Capital Advisers LLC lifted its holdings in Canadian Imperial Bank of Commerce by 12.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 4,683 shares of the bank's stock worth $264,000 after buying an additional 534 shares during the period. Private Trust Co. NA lifted its holdings in Canadian Imperial Bank of Commerce by 40.0% during the 1st quarter. Private Trust Co. NA now owns 781 shares of the bank's stock worth $44,000 after buying an additional 223 shares during the period. Rossby Financial LCC acquired a new position in Canadian Imperial Bank of Commerce during the 1st quarter worth about $150,000. Smith Group Asset Management LLC lifted its holdings in Canadian Imperial Bank of Commerce by 18.6% during the 1st quarter. Smith Group Asset Management LLC now owns 91,470 shares of the bank's stock worth $5,150,000 after buying an additional 14,370 shares during the period. Finally, Gold Investment Management Ltd. lifted its stake in shares of Canadian Imperial Bank of Commerce by 2.7% in the 1st quarter. Gold Investment Management Ltd. now owns 56,625 shares of the bank's stock valued at $3,187,000 after purchasing an additional 1,508 shares during the period. Institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock traded down $0.26 during trading on Tuesday, hitting $72.05. The stock had a trading volume of 530,737 shares, compared to its average volume of 1,131,399. The firm has a market cap of $67.74 billion, a price-to-earnings ratio of 12.66, a P/E/G ratio of 1.58 and a beta of 1.05. Canadian Imperial Bank of Commerce has a 12 month low of $47.55 and a 12 month high of $73.52. The business's 50-day moving average is $68.51 and its 200 day moving average is $63.06. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.16.

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 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.10. Canadian Imperial Bank of Commerce had a return on equity of 14.51% and a net margin of 12.19%. The business had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the business posted $1.75 earnings per share. The company's revenue for the quarter was up 13.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current 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 paid a dividend of $0.7024 per share. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Friday, June 27th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 49.56%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CM. Royal Bank Of Canada boosted their target price on Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. National Bank Financial downgraded Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. BMO Capital Markets boosted their target price on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Scotiabank began coverage on Canadian Imperial Bank of Commerce in a research note on Thursday, May 15th. They issued a "sector outperform" rating on the stock. Finally, Jefferies Financial Group downgraded Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently 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.