Canadian Imperial Bank of Commerce (NYSE:CM) Stock Holdings Lifted by Guardian Capital LP

Guardian Capital LP raised its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 3,239.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 694,580 shares of the bank's stock after purchasing an additional 673,780 shares during the period. Canadian Imperial Bank of Commerce accounts for about 1.2% of Guardian Capital LP's investment portfolio, making the stock its 22nd largest position. Guardian Capital LP owned approximately 0.07% of Canadian Imperial Bank of Commerce worth $33,607,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CM. Mufg Securities Canada LTD. acquired a new stake in Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $94,373,000. Intact Investment Management Inc. boosted its holdings in Canadian Imperial Bank of Commerce by 299.1% in the third quarter. Intact Investment Management Inc. now owns 2,575,873 shares of the bank's stock worth $99,428,000 after purchasing an additional 1,930,440 shares in the last quarter. Triasima Portfolio Management inc. acquired a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth $35,234,000. Public Sector Pension Investment Board raised its holdings in Canadian Imperial Bank of Commerce by 177.6% during the third quarter. Public Sector Pension Investment Board now owns 990,605 shares of the bank's stock valued at $38,415,000 after buying an additional 633,770 shares in the last quarter. Finally, Canoe Financial LP lifted its position in shares of Canadian Imperial Bank of Commerce by 1,614.9% in the fourth quarter. Canoe Financial LP now owns 644,800 shares of the bank's stock worth $31,041,000 after buying an additional 607,200 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Scotiabank raised Canadian Imperial Bank of Commerce from a "sector perform" rating to a "sector outperform" rating in a research note on Tuesday, February 20th. Barclays initiated coverage on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, March 20th. They issued an "underweight" rating for the company. Finally, Jefferies Financial Group started coverage on shares of Canadian Imperial Bank of Commerce in a report on Thursday, February 22nd. They issued a "buy" rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $63.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM traded down $0.31 during mid-day trading on Tuesday, reaching $48.99. The company had a trading volume of 845,061 shares, compared to its average volume of 1,672,943. The company has a market capitalization of $45.95 billion, a P/E ratio of 10.15, a P/E/G ratio of 2.33 and a beta of 1.07. Canadian Imperial Bank of Commerce has a twelve month low of $34.35 and a twelve month 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 company's 50-day moving average is $48.93 and its 200-day moving average is $45.61.

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, topping the consensus estimate of $1.24 by $0.10. Canadian Imperial Bank of Commerce had a return on equity of 13.07% and a net margin of 10.79%. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.47 billion. On average, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 5.03 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Thursday, March 28th were 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. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.65 annualized dividend and a yield of 5.42%. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 54.75%.

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.

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