Avantax Advisory Services Inc. Boosts Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Avantax Advisory Services Inc. boosted its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,857 shares of the bank’s stock after purchasing an additional 522 shares during the period. Avantax Advisory Services Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $860,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC raised its holdings in Canadian Imperial Bank of Commerce by 15.2% in the 3rd quarter. Signaturefd LLC now owns 15,670 shares of the bank’s stock worth $605,000 after purchasing an additional 2,063 shares in the last quarter. Syon Capital LLC bought a new stake in Canadian Imperial Bank of Commerce during the 3rd quarter valued at approximately $246,000. NBC Securities Inc. purchased a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter worth approximately $106,000. Assenagon Asset Management S.A. raised its position in shares of Canadian Imperial Bank of Commerce by 9.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 75,658 shares of the bank’s stock worth $2,934,000 after acquiring an additional 6,264 shares in the last quarter. Finally, Versor Investments LP lifted its stake in shares of Canadian Imperial Bank of Commerce by 31.7% in the 3rd quarter. Versor Investments LP now owns 22,861 shares of the bank’s stock valued at $883,000 after purchasing an additional 5,500 shares during the period. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM opened at $49.40 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $46.33 billion, a PE ratio of 10.21, a price-to-earnings-growth ratio of 2.33 and a beta of 1.07. The firm’s 50 day moving average price is $48.92 and its 200-day moving average price is $46.00. Canadian Imperial Bank of Commerce has a twelve month low of $34.35 and a twelve month high of $51.14.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Thursday, February 29th. The bank reported $1.34 earnings per share for the quarter, topping 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. Equities research analysts expect that Canadian Imperial Bank of Commerce will post 5.03 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Thursday, March 28th were 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. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.65 dividend on an annualized basis and a yield of 5.37%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 54.75%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Barclays initiated coverage on Canadian Imperial Bank of Commerce in a research note on Wednesday, March 20th. They issued an “underweight” rating on the stock. Scotiabank raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a research report on Tuesday, February 20th. Finally, Jefferies Financial Group assumed coverage on shares of Canadian Imperial Bank of Commerce in a report on Thursday, February 22nd. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.