Wealth Alliance Acquires 990 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Wealth Alliance lifted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,689 shares of the bank’s stock after acquiring an additional 990 shares during the quarter. Wealth Alliance’s holdings in Canadian Imperial Bank of Commerce were worth $659,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 33,841,855 shares of the bank’s stock valued at $1,306,634,000 after acquiring an additional 544,942 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Canadian Imperial Bank of Commerce by 1.8% during the 3rd quarter. Toronto Dominion Bank now owns 26,965,878 shares of the bank’s stock worth $1,041,153,000 after buying an additional 476,342 shares during the period. CIBC Asset Management Inc lifted its holdings in Canadian Imperial Bank of Commerce by 0.4% during the 3rd quarter. CIBC Asset Management Inc now owns 10,287,048 shares of the bank’s stock worth $398,310,000 after buying an additional 41,841 shares during the period. Norges Bank acquired a new position in Canadian Imperial Bank of Commerce during the 4th quarter worth about $305,412,000. Finally, JPMorgan Chase & Co. lifted its holdings in Canadian Imperial Bank of Commerce by 9.9% during the 1st quarter. JPMorgan Chase & Co. now owns 5,252,884 shares of the bank’s stock worth $222,828,000 after buying an additional 471,370 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock opened at $47.05 on Thursday. 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 business has a 50-day simple moving average of $48.33 and a 200 day simple moving average of $44.16. The firm has a market capitalization of $44.11 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 2.21 and a beta of 1.06. Canadian Imperial Bank of Commerce has a one year low of $34.35 and a one year high of $51.14.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, February 29th. The bank reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.10. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.47 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.07% and a net margin of 10.79%. On average, research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.04 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.6634 per share. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. This represents a $2.65 dividend on an annualized basis and a yield of 5.64%. The ex-dividend date of this dividend is Wednesday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is currently 26.45%.

Analyst Ratings Changes

Several research analysts have commented on CM shares. National Bank Financial raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating in a report on Wednesday, December 20th. Barclays assumed coverage on Canadian Imperial Bank of Commerce in a report on Wednesday, March 20th. They set an “underweight” rating on the stock. Scotiabank raised Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a research note on Tuesday, February 20th. Finally, Jefferies Financial Group assumed coverage on Canadian Imperial Bank of Commerce in a research note on Thursday, February 22nd. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

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.