Canadian Imperial Bank of Commerce $CM Shares Acquired by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC lifted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 383.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 85,076 shares of the bank’s stock after buying an additional 67,467 shares during the period. Chesley Taft & Associates LLC’s holdings in Canadian Imperial Bank of Commerce were worth $7,709,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sivia Capital Partners LLC acquired a new position in Canadian Imperial Bank of Commerce in the 2nd quarter valued at $262,000. Cetera Investment Advisers boosted its holdings in shares of Canadian Imperial Bank of Commerce by 1.0% during the second quarter. Cetera Investment Advisers now owns 27,792 shares of the bank’s stock worth $1,969,000 after purchasing an additional 268 shares during the last quarter. MAI Capital Management grew its position in shares of Canadian Imperial Bank of Commerce by 57.5% in the second quarter. MAI Capital Management now owns 737 shares of the bank’s stock valued at $52,000 after purchasing an additional 269 shares during the period. American Century Companies Inc. grew its position in shares of Canadian Imperial Bank of Commerce by 10.8% in the second quarter. American Century Companies Inc. now owns 348,986 shares of the bank’s stock valued at $24,772,000 after purchasing an additional 33,908 shares during the period. Finally, Prudential Financial Inc. increased its stake in Canadian Imperial Bank of Commerce by 26.3% in the second quarter. Prudential Financial Inc. now owns 78,319 shares of the bank’s stock valued at $5,548,000 after purchasing an additional 16,324 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

CM opened at $92.81 on Friday. 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 50 day moving average of $96.51 and a two-hundred day moving average of $89.50. The company has a market cap of $85.79 billion, a P/E ratio of 13.53, a P/E/G ratio of 0.96 and a beta of 1.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, February 26th. The bank reported $1.99 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $5.53 billion. During the same quarter last year, the firm posted $2.20 EPS. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, analysts expect that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Friday, March 27th will be paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Friday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is currently 44.61%.

Wall Street Analysts Forecast Growth

CM has been the topic of several recent analyst reports. Barclays upgraded Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research report on Thursday, February 19th. 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. Finally, Weiss Ratings upgraded shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, March 10th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.50.

Canadian Imperial Bank of Commerce 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.