Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Lindbrook Capital LLC

Lindbrook Capital LLC lessened its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 33.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 689 shares of the bank’s stock after selling 345 shares during the period. Lindbrook Capital LLC’s holdings in Canadian Imperial Bank of Commerce were worth $33,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bruce G. Allen Investments LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth $33,000. Janiczek Wealth Management LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 34.9% in the fourth quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank’s stock valued at $41,000 after purchasing an additional 222 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at about $110,000. NBC Securities Inc. acquired a new stake in shares of Canadian Imperial Bank of Commerce in the third quarter valued at about $106,000. Finally, Trust Co. of Toledo NA OH acquired a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at about $204,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on CM. Barclays began coverage on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, March 20th. They issued an “underweight” rating for the company. Scotiabank upgraded 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, Jefferies Financial Group began coverage on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, February 22nd. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM opened at $47.83 on Friday. 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 stock has a market cap of $44.86 billion, a P/E ratio of 9.88, a PEG ratio of 2.23 and a beta of 1.06. The company has a 50-day moving average of $48.67 and a two-hundred day moving average of $44.62. Canadian Imperial Bank of Commerce has a 12-month low of $34.35 and a 12-month high of $51.14.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, February 29th. The bank reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.10. The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.47 billion. Canadian Imperial Bank of Commerce had a net margin of 10.79% and a return on equity of 13.07%. As a group, research analysts predict that Canadian Imperial Bank of Commerce will post 5.04 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.6634 per share. 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. This represents a $2.65 dividend on an annualized basis and a dividend yield of 5.55%. Canadian Imperial Bank of Commerce’s payout ratio is 26.45%.

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.