Mackenzie Financial Corp Decreases Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Mackenzie Financial Corp decreased its holdings in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 11.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,453,042 shares of the bank's stock after selling 583,635 shares during the period. Mackenzie Financial Corp owned about 0.48% of Canadian Imperial Bank of Commerce worth $214,515,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of CM. Bruce G. Allen Investments LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at about $33,000. Janiczek Wealth Management LLC grew its position in shares of Canadian Imperial Bank of Commerce by 34.9% in the fourth quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank's stock valued at $41,000 after purchasing an additional 222 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Canadian Imperial Bank of Commerce by 277.9% in the first quarter. NewEdge Advisors LLC now owns 1,126 shares of the bank's stock valued at $48,000 after purchasing an additional 828 shares during the last quarter. CENTRAL TRUST Co lifted its stake in shares of Canadian Imperial Bank of Commerce by 77.8% during the third quarter. CENTRAL TRUST Co now owns 1,600 shares of the bank's stock valued at $70,000 after buying an additional 700 shares during the period. Finally, SG Americas Securities LLC purchased a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $110,000. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM traded down $0.32 during trading hours on Monday, hitting $47.71. The stock had a trading volume of 1,087,317 shares, compared to its average volume of 1,842,961. The company's fifty day moving average is $48.18 and its two-hundred day moving average is $44.02. The stock has a market capitalization of $44.73 billion, a price-to-earnings ratio of 9.83, a P/E/G ratio of 2.25 and a beta of 1.06. 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 has a 52 week low of $34.35 and a 52 week high of $51.14.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last issued its earnings results on Thursday, February 29th. The bank reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.47 billion. On average, analysts anticipate that Canadian Imperial Bank of Commerce will post 5.04 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.6634 per share. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.66. This represents a $2.65 annualized dividend and a yield of 5.56%. The ex-dividend date is Wednesday, March 27th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 26.45%.

Analysts Set New Price Targets

A number of research firms have weighed in on CM. Scotiabank raised shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to a "sector outperform" rating in a research note on Tuesday, February 20th. Jefferies Financial Group started coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, February 22nd. They issued a "buy" rating on the stock. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from an "underperform" rating to a "neutral" rating in a research report on Monday, December 18th. Barclays began coverage on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, March 20th. They issued an "underweight" rating on the stock. Finally, National Bank Financial upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating in a research report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $63.00.

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.