Private Trust Co. NA Buys 223 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Private Trust Co. NA raised its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 40.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 781 shares of the bank’s stock after acquiring an additional 223 shares during the period. Private Trust Co. NA’s holdings in Canadian Imperial Bank of Commerce were worth $44,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Operose Advisors LLC bought a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at $26,000. SBI Securities Co. Ltd. bought a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at $30,000. Sandy Spring Bank bought a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at $32,000. Lee Danner & Bass Inc. bought a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at $44,000. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 1,307.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 788 shares of the bank’s stock worth $50,000 after buying an additional 732 shares in the last quarter. 49.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CM has been the subject of a number of recent research reports. Jefferies Financial Group cut shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Monday, April 21st. BMO Capital Markets lifted their price objective on shares of Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Friday, May 30th. National Bank Financial cut shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research note on Friday, May 30th. Royal Bank Of Canada lifted their price objective on shares of Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the stock an “outperform” rating in a research note on Friday, May 30th. Finally, Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Saturday, May 24th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and an average target price of $109.00.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at $72.74 on Thursday. Canadian Imperial Bank of Commerce has a 12 month low of $47.55 and a 12 month high of $72.76. 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 company has a 50-day moving average price of $67.95 and a 200 day moving average price of $62.89. The stock has a market cap of $68.39 billion, a PE ratio of 12.78, a P/E/G ratio of 1.55 and a beta of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, May 29th. The bank reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.10. Canadian Imperial Bank of Commerce had a net margin of 12.19% and a return on equity of 14.51%. The firm had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the previous year, the company earned $1.75 EPS. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. Equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, June 27th will be given a $0.7024 dividend. This represents a $2.81 annualized dividend and a yield of 3.86%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.67. The ex-dividend date is Friday, June 27th. Canadian Imperial Bank of Commerce’s payout ratio is 49.56%.

About Canadian Imperial Bank of Commerce

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.