Triasima Portfolio Management inc. Buys New Shares in Canadian Imperial Bank of Commerce (NYSE:CM)

Triasima Portfolio Management inc. purchased a new position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 730,425 shares of the bank's stock, valued at approximately $35,234,000. Canadian Imperial Bank of Commerce makes up about 2.9% of Triasima Portfolio Management inc.'s portfolio, making the stock its 8th largest holding. Triasima Portfolio Management inc. owned about 0.08% of Canadian Imperial Bank of Commerce as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of CM. Wellington Management Group LLP lifted its position in shares of Canadian Imperial Bank of Commerce by 187.3% during the 3rd quarter. Wellington Management Group LLP now owns 266,581 shares of the bank's stock worth $10,338,000 after purchasing an additional 173,801 shares during the last quarter. CenterBook Partners LP purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 3rd quarter worth $4,509,000. American Century Companies Inc. lifted its position in shares of Canadian Imperial Bank of Commerce by 8.7% during the 3rd quarter. American Century Companies Inc. now owns 177,501 shares of the bank's stock worth $6,852,000 after purchasing an additional 14,141 shares during the last quarter. Public Sector Pension Investment Board lifted its position in shares of Canadian Imperial Bank of Commerce by 177.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 990,605 shares of the bank's stock worth $38,415,000 after purchasing an additional 633,770 shares during the last quarter. Finally, Bank of Nova Scotia Trust Co. lifted its position in shares of Canadian Imperial Bank of Commerce by 20.4% during the 3rd quarter. Bank of Nova Scotia Trust Co. now owns 563,792 shares of the bank's stock worth $21,768,000 after purchasing an additional 95,463 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Stock Performance

Shares of NYSE:CM traded down $0.63 on Friday, reaching $48.03. The company's stock had a trading volume of 1,126,918 shares, compared to its average volume of 1,596,398. The stock's 50-day moving average is $48.18 and its two-hundred day moving average is $43.96. Canadian Imperial Bank of Commerce has a 52-week low of $34.35 and a 52-week high of $51.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market capitalization of $45.03 billion, a P/E ratio of 9.92, a PEG ratio of 2.28 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last announced its earnings results on Thursday, February 29th. The bank reported $1.34 EPS for the quarter, beating analysts' consensus estimates of $1.24 by $0.10. Canadian Imperial Bank of Commerce had a net margin of 10.79% and a return on equity of 13.07%. The business had revenue of $4.60 billion during the quarter, compared to analysts' expectations of $4.47 billion. As a group, sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 5.04 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.6634 per share. This represents a $2.65 dividend on an annualized basis and a dividend yield of 5.52%. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, March 27th. Canadian Imperial Bank of Commerce's payout ratio is 26.45%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Scotiabank raised shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to a "sector outperform" rating in a research report on Tuesday, February 20th. Barclays initiated coverage on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, March 20th. They issued an "underweight" rating for the company. National Bank Financial raised shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating in a research report on Wednesday, December 20th. Jefferies Financial Group initiated coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, February 22nd. They issued a "buy" rating for the company. Finally, Bank of America raised shares of Canadian Imperial Bank of Commerce from an "underperform" rating to a "neutral" rating in a research report on Monday, December 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $63.00.

Canadian Imperial Bank of Commerce 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.