Canadian Imperial Bank of Commerce (NYSE:CM) Shares Purchased by AGF Management Ltd.

AGF Management Ltd. raised its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 282.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,546 shares of the bank's stock after buying an additional 28,475 shares during the period. AGF Management Ltd.'s holdings in Canadian Imperial Bank of Commerce were worth $1,856,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Bruce G. Allen Investments LLC purchased a new stake in Canadian Imperial Bank of Commerce in the fourth quarter worth about $33,000. Janiczek Wealth Management LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 34.9% in the 4th quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank's stock worth $41,000 after purchasing an additional 222 shares during the period. Principal Securities Inc. bought a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $64,000. Hexagon Capital Partners LLC increased its holdings in Canadian Imperial Bank of Commerce by 152.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,692 shares of the bank's stock valued at $81,000 after buying an additional 1,023 shares during the period. Finally, SG Americas Securities LLC bought a new position in Canadian Imperial Bank of Commerce in the fourth quarter worth approximately $110,000. Institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Price Performance

NYSE:CM traded up $0.22 during trading hours on Wednesday, reaching $49.22. 865,350 shares of the company were exchanged, compared to its average volume of 1,664,351. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.16. The firm has a market cap of $46.16 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 2.32 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 stock's 50-day moving average is $48.93 and its 200-day moving average is $45.71.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last posted its quarterly earnings data 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 company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.47 billion. On average, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 5.03 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Thursday, March 28th were issued a $0.6634 dividend. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.66. This represents a $2.65 annualized dividend and a yield of 5.39%. The ex-dividend date of this dividend was Wednesday, March 27th. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 54.75%.

Analyst Ratings Changes

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

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.