American Century Companies Inc. Purchases 15,867 Shares of Canadian Imperial Bank of Commerce $CM

American Century Companies Inc. raised its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 5.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 315,078 shares of the bank’s stock after buying an additional 15,867 shares during the quarter. American Century Companies Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $17,724,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Canadian Imperial Bank of Commerce by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 40,028,162 shares of the bank’s stock valued at $2,251,664,000 after buying an additional 642,924 shares during the period. Toronto Dominion Bank increased its holdings in Canadian Imperial Bank of Commerce by 1.1% in the 4th quarter. Toronto Dominion Bank now owns 22,138,015 shares of the bank’s stock valued at $1,398,619,000 after buying an additional 234,088 shares during the period. Bank of Nova Scotia increased its holdings in Canadian Imperial Bank of Commerce by 4.5% in the 1st quarter. Bank of Nova Scotia now owns 17,967,436 shares of the bank’s stock valued at $1,010,849,000 after buying an additional 773,174 shares during the period. JPMorgan Chase & Co. increased its holdings in Canadian Imperial Bank of Commerce by 31.6% in the 1st quarter. JPMorgan Chase & Co. now owns 10,581,914 shares of the bank’s stock valued at $595,762,000 after buying an additional 2,538,808 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in Canadian Imperial Bank of Commerce by 41.1% in the 4th quarter. Mackenzie Financial Corp now owns 6,835,795 shares of the bank’s stock valued at $431,952,000 after buying an additional 1,990,520 shares during the period. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Trading Up 0.1%

CM opened at $73.1650 on Monday. Canadian Imperial Bank of Commerce has a fifty-two week low of $53.62 and a fifty-two week high of $74.63. 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 firm has a market capitalization of $68.01 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 1.60 and a beta of 1.06. The company’s 50 day moving average price is $72.07 and its two-hundred day moving average price is $65.13.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its earnings results on Thursday, May 29th. The bank reported $1.44 earnings per share 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 for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the firm posted $1.75 EPS. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, research analysts predict 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 firm also recently announced a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Friday, June 27th were issued a dividend of $0.7024 per share. This represents a $2.81 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Friday, June 27th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.67. Canadian Imperial Bank of Commerce’s payout ratio is presently 49.56%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Royal Bank Of Canada upped 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 report on Friday, May 30th. Wall Street Zen upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Scotiabank assumed coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They set a “sector outperform” rating for the company. BMO Capital Markets upped 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 report on Friday, May 30th. Finally, National Bank Financial cut shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research report on Friday, May 30th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $109.00.

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.