First Bank & Trust Has $1.47 Million Stock Holdings in Canadian Imperial Bank of Commerce $CM

First Bank & Trust reduced its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 34.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,164 shares of the bank’s stock after selling 8,591 shares during the period. First Bank & Trust’s holdings in Canadian Imperial Bank of Commerce were worth $1,465,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sivia Capital Partners LLC acquired a new stake in Canadian Imperial Bank of Commerce during the 2nd quarter worth approximately $262,000. Cetera Investment Advisers increased its position in Canadian Imperial Bank of Commerce by 1.0% in the 2nd quarter. Cetera Investment Advisers now owns 27,792 shares of the bank’s stock valued at $1,969,000 after acquiring an additional 268 shares during the period. MAI Capital Management raised its stake in shares of Canadian Imperial Bank of Commerce by 57.5% during the second quarter. MAI Capital Management now owns 737 shares of the bank’s stock valued at $52,000 after acquiring an additional 269 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 10.8% during the second quarter. American Century Companies Inc. now owns 348,986 shares of the bank’s stock valued at $24,772,000 after acquiring an additional 33,908 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 3.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 2,614,421 shares of the bank’s stock worth $185,219,000 after purchasing an additional 75,948 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CM shares. Zacks Research raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 4th. Weiss Ratings raised Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, March 10th. Finally, Barclays upgraded Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research report on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $107.50.

Canadian Imperial Bank of Commerce Stock Up 0.7%

Shares of NYSE CM opened at $97.33 on Thursday. The company’s 50 day moving average price is $96.46 and its 200-day moving average price is $89.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02. Canadian Imperial Bank of Commerce has a 52-week low of $53.62 and a 52-week high of $105.00. The company has a market capitalization of $89.98 billion, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 1.00 and a beta of 1.00.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, February 26th. The bank reported $1.99 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.25. Canadian Imperial Bank of Commerce had a net margin of 15.15% and a return on equity of 15.69%. The company had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $5.53 billion. During the same period in the prior year, the company posted $2.20 earnings per share. Canadian Imperial Bank of Commerce’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Friday, March 27th will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 44.61%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.