Raymond James Financial Services Advisors Inc. Sells 2,274 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Raymond James Financial Services Advisors Inc. reduced its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 13.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 14,324 shares of the bank’s stock after selling 2,274 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $690,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CM. Norges Bank bought a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at about $305,412,000. Intact Investment Management Inc. increased its stake in shares of Canadian Imperial Bank of Commerce by 299.1% in the 3rd quarter. Intact Investment Management Inc. now owns 2,575,873 shares of the bank’s stock valued at $99,428,000 after acquiring an additional 1,930,440 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of Canadian Imperial Bank of Commerce by 177.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 990,605 shares of the bank’s stock valued at $38,415,000 after acquiring an additional 633,770 shares during the last quarter. Polar Asset Management Partners Inc. increased its stake in shares of Canadian Imperial Bank of Commerce by 101.2% in the 2nd quarter. Polar Asset Management Partners Inc. now owns 7,500 shares of the bank’s stock valued at $321,000 after acquiring an additional 615,950 shares during the last quarter. Finally, Clearbridge Investments LLC bought a new stake in shares of Canadian Imperial Bank of Commerce in the 1st quarter valued at about $73,764,000. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Trading Up 0.1 %

NYSE CM opened at $47.05 on Thursday. The company has a market cap of $44.11 billion, a PE ratio of 9.72, a PEG ratio of 2.24 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 has a 12 month low of $34.35 and a 12 month high of $51.14. The stock has a 50 day moving average of $48.33 and a 200-day moving average of $44.16.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Thursday, February 29th. The bank reported $1.34 EPS for the quarter, beating the consensus estimate of $1.24 by $0.10. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.47 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.07% and a net margin of 10.79%. On average, equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.04 EPS 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 paid a $0.6634 dividend. This represents a $2.65 dividend on an annualized basis and a yield of 5.64%. The ex-dividend date is Wednesday, March 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. Canadian Imperial Bank of Commerce’s dividend payout ratio is 26.45%.

Wall Street Analysts Forecast Growth

CM has been the subject of several research analyst reports. National Bank Financial upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, December 20th. Barclays began coverage on Canadian Imperial Bank of Commerce in a research report on Wednesday, March 20th. They set an “underweight” rating for the company. Jefferies Financial Group began coverage on Canadian Imperial Bank of Commerce in a research report on Thursday, February 22nd. They set 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 analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

Canadian Imperial Bank of Commerce 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.