Sapient Capital LLC Purchases Shares of 4,451 Canadian Imperial Bank of Commerce (NYSE:CM)

Sapient Capital LLC purchased a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,451 shares of the bank’s stock, valued at approximately $214,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $305,412,000. Intact Investment Management Inc. lifted its position in shares of Canadian Imperial Bank of Commerce by 299.1% during 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. Public Sector Pension Investment Board lifted its position in shares of 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 worth $38,415,000 after purchasing an additional 633,770 shares in the last quarter. Polar Asset Management Partners Inc. lifted its position in shares of Canadian Imperial Bank of Commerce by 101.2% during the second quarter. Polar Asset Management Partners Inc. now owns 7,500 shares of the bank’s stock worth $321,000 after purchasing an additional 615,950 shares in the last quarter. Finally, Clearbridge Investments LLC acquired a new position in shares of Canadian Imperial Bank of Commerce during the first quarter worth approximately $73,764,000. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Down 0.7 %

Shares of NYSE:CM opened at $47.71 on Tuesday. 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 quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $44.73 billion, a PE ratio of 9.86, a PEG ratio of 2.25 and a beta of 1.06. The company has a 50 day moving average price of $48.24 and a two-hundred day moving average price of $44.08.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, February 29th. The bank reported $1.34 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 firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.47 billion. Analysts forecast that Canadian Imperial Bank of Commerce will post 5.04 earnings per share for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CM shares. Barclays started 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. Bank of America raised shares of Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a research note on Monday, December 18th. Jefferies Financial Group started coverage on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, February 22nd. They set a “buy” rating for the company. 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. Finally, National Bank Financial raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus 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.