Canadian Imperial Bank of Commerce (NYSE:CM) Stock Position Decreased by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. cut its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 91.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 909 shares of the bank’s stock after selling 10,252 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $44,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bruce G. Allen Investments LLC bought a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth $33,000. NewEdge Advisors LLC boosted 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 worth $48,000 after buying an additional 828 shares during the period. CENTRAL TRUST Co boosted its position in shares of Canadian Imperial Bank of Commerce by 77.8% in the third quarter. CENTRAL TRUST Co now owns 1,600 shares of the bank’s stock worth $70,000 after buying an additional 700 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth $110,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of Canadian Imperial Bank of Commerce in the first quarter worth $295,000. 49.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on CM shares. Barclays started coverage on Canadian Imperial Bank of Commerce in a research report on Wednesday, March 20th. They issued an “underweight” rating for the company. National Bank Financial raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, December 20th. Jefferies Financial Group started coverage on Canadian Imperial Bank of Commerce in a research report on Thursday, February 22nd. They issued a “buy” rating for the company. Finally, 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. One investment 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’s stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

Canadian Imperial Bank of Commerce Price Performance

CM opened at $47.00 on Wednesday. Canadian Imperial Bank of Commerce has a 1 year low of $34.35 and a 1 year high of $51.14. The stock has a fifty day moving average price of $48.28 and a 200 day moving average price of $44.14. The stock has a market cap of $44.06 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 2.25 and a beta of 1.06. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.16.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, February 29th. The bank reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $4.47 billion. Analysts forecast that Canadian Imperial Bank of Commerce will post 5.04 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, March 28th will be given a $0.6634 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.65 dividend on an annualized basis and a dividend yield of 5.65%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. Canadian Imperial Bank of Commerce’s payout ratio is currently 26.45%.

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.