9,778 Shares in Canadian Imperial Bank of Commerce (NYSE:CM) Purchased by Cerity Partners LLC

Cerity Partners LLC purchased a new position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the 4th quarter, Holdings Channel.com reports. The firm purchased 9,778 shares of the bank’s stock, valued at approximately $471,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Tobam raised its position in Canadian Imperial Bank of Commerce by 7.3% in the fourth quarter. Tobam now owns 7,316 shares of the bank’s stock worth $354,000 after purchasing an additional 499 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Canadian Imperial Bank of Commerce in the fourth quarter worth about $38,700,000. DekaBank Deutsche Girozentrale raised its position in Canadian Imperial Bank of Commerce by 29.7% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 208,987 shares of the bank’s stock worth $9,973,000 after purchasing an additional 47,867 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co grew its stake in Canadian Imperial Bank of Commerce by 12.6% during the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 36,901 shares of the bank’s stock worth $1,780,000 after buying an additional 4,130 shares during the last quarter. Finally, Addenda Capital Inc. grew its stake in Canadian Imperial Bank of Commerce by 8.0% during the fourth quarter. Addenda Capital Inc. now owns 228,018 shares of the bank’s stock worth $10,977,000 after buying an additional 16,894 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

CM opened at $47.41 on Friday. Canadian Imperial Bank of Commerce has a one year low of $34.35 and a one year 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 simple moving average is $48.63 and its 200-day simple moving average is $44.55. The stock has a market capitalization of $44.45 billion, a P/E ratio of 9.80, a price-to-earnings-growth ratio of 2.25 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly 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 business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.47 billion. Sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 5.04 earnings per share 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. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.6634 per share. 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 dividend yield of 5.60%. The ex-dividend date of this dividend is Wednesday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 26.45%.

Analyst Upgrades and Downgrades

CM has been the topic of several research analyst reports. 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. Barclays initiated coverage on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, March 20th. They set an “underweight” rating on the stock. Finally, Jefferies Financial Group initiated coverage on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, February 22nd. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.