Canadian Imperial Bank of Commerce $CM Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 0.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,477 shares of the bank’s stock after acquiring an additional 173 shares during the period. Janney Montgomery Scott LLC’s holdings in Canadian Imperial Bank of Commerce were worth $3,788,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Canadian Imperial Bank of Commerce by 1.6% during the first quarter. Vanguard Group Inc. now owns 40,028,162 shares of the bank’s stock worth $2,251,664,000 after buying an additional 642,924 shares during the period. Bank of Nova Scotia lifted its stake in shares of Canadian Imperial Bank of Commerce by 4.5% during the first quarter. Bank of Nova Scotia now owns 17,967,436 shares of the bank’s stock worth $1,010,849,000 after buying an additional 773,174 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Canadian Imperial Bank of Commerce by 31.6% during the first quarter. JPMorgan Chase & Co. now owns 10,581,914 shares of the bank’s stock worth $595,762,000 after buying an additional 2,538,808 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Canadian Imperial Bank of Commerce by 23.0% during the first quarter. Canada Pension Plan Investment Board now owns 6,055,999 shares of the bank’s stock worth $340,721,000 after buying an additional 1,133,715 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Canadian Imperial Bank of Commerce by 405.5% during the first quarter. Goldman Sachs Group Inc. now owns 5,187,068 shares of the bank’s stock valued at $292,032,000 after purchasing an additional 4,160,938 shares during the period. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Performance

NYSE:CM opened at $81.61 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $75.86 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 1.74 and a beta of 1.03. The company’s 50-day moving average is $76.83 and its two-hundred day moving average is $69.53. Canadian Imperial Bank of Commerce has a 1-year low of $53.62 and a 1-year high of $82.23.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its earnings results on Thursday, August 28th. The bank reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.14. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.12 billion. Canadian Imperial Bank of Commerce had a net margin of 12.94% and a return on equity of 14.67%. Canadian Imperial Bank of Commerce’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.93 EPS. Analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 28th. Stockholders of record on Monday, September 29th will be issued a $0.97 dividend. The ex-dividend date is Monday, September 29th. This represents a $3.88 annualized dividend and a dividend yield of 4.8%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 47.64%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada boosted their target price on shares of Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research note on Saturday, September 27th. Finally, Wall Street Zen cut shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Saturday. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $107.50.

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.