Canadian Imperial Bank of Commerce (NYSE:CM) is Intact Investment Management Inc.'s Largest Position

Intact Investment Management Inc. lowered its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 3.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,484,483 shares of the bank's stock after selling 91,390 shares during the period. Canadian Imperial Bank of Commerce comprises about 4.8% of Intact Investment Management Inc.'s investment portfolio, making the stock its biggest position. Intact Investment Management Inc. owned 0.27% of Canadian Imperial Bank of Commerce worth $119,630,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Russell Investments Group Ltd. grew its holdings in Canadian Imperial Bank of Commerce by 0.5% in the 4th quarter. Russell Investments Group Ltd. now owns 369,673 shares of the bank's stock worth $17,878,000 after acquiring an additional 1,699 shares during the last quarter. Lorne Steinberg Wealth Management Inc. grew its holdings in Canadian Imperial Bank of Commerce by 9.9% in the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 162,137 shares of the bank's stock worth $7,808,000 after acquiring an additional 14,626 shares during the last quarter. Signaturefd LLC grew its holdings in Canadian Imperial Bank of Commerce by 22.6% in the 4th quarter. Signaturefd LLC now owns 19,219 shares of the bank's stock worth $925,000 after acquiring an additional 3,549 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Canadian Imperial Bank of Commerce by 15.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 335,143 shares of the bank's stock worth $16,216,000 after acquiring an additional 45,231 shares during the last quarter. Finally, Lipe & Dalton grew its holdings in Canadian Imperial Bank of Commerce by 0.6% in the 4th quarter. Lipe & Dalton now owns 90,470 shares of the bank's stock worth $4,355,000 after acquiring an additional 550 shares during the last quarter. Institutional investors own 49.88% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have 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 report on Tuesday, February 20th. Barclays initiated coverage on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, March 20th. They set an "underweight" rating on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, February 22nd. They set a "buy" rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of "Moderate Buy" and an average target price of $63.00.

Canadian Imperial Bank of Commerce Trading Up 0.9 %

Shares of CM traded up $0.42 during trading hours on Friday, reaching $47.82. 843,860 shares of the company traded hands, compared to its average volume of 1,343,767. The company's fifty day moving average price is $48.67 and its two-hundred day moving average price is $44.67. The company has a market capitalization of $44.85 billion, a price-to-earnings ratio of 9.88, a price-to-earnings-growth ratio of 2.22 and a beta of 1.06. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16. Canadian Imperial Bank of Commerce has a 12 month low of $34.35 and a 12 month high of $51.14.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last issued its quarterly earnings results on Thursday, February 29th. The bank reported $1.34 earnings per share (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 company had revenue of $4.60 billion during the quarter, compared to analysts' expectations of $4.47 billion. Equities research analysts predict that Canadian Imperial Bank of Commerce will post 5.04 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, April 29th. Investors of record on Thursday, March 28th will be given a dividend of $0.6634 per share. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.66. This represents a $2.65 dividend on an annualized basis and a yield of 5.55%. The ex-dividend date is Wednesday, March 27th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 26.45%.

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.