Canadian Imperial Bank of Commerce (CM) Shares Bought by Comerica Bank

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Comerica Bank grew its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,013 shares of the bank’s stock after acquiring an additional 1,276 shares during the quarter. Comerica Bank’s holdings in Canadian Imperial Bank of Commerce were worth $2,951,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWM LLC increased its stake in shares of Canadian Imperial Bank of Commerce by 1,524.0% during the 1st quarter. CWM LLC now owns 406 shares of the bank’s stock valued at $32,000 after acquiring an additional 381 shares during the last quarter. Liberty Wealth Management LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $31,000. Advisory Services Network LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 108.0% during the 4th quarter. Advisory Services Network LLC now owns 443 shares of the bank’s stock worth $33,000 after purchasing an additional 230 shares during the period. Financial Gravity Companies Inc. purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $38,000. Finally, Capital Investment Advisory Services LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $37,000. 47.26% of the stock is owned by institutional investors.

A number of analysts have recently issued reports on the company. Zacks Investment Research upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday, May 17th. ValuEngine cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Friday, March 1st. Barclays reiterated an “average” rating and set a $123.00 target price on shares of Canadian Imperial Bank of Commerce in a report on Friday, March 1st. Scotiabank reiterated an “average” rating and set a $126.00 target price on shares of Canadian Imperial Bank of Commerce in a report on Friday, February 22nd. Finally, Canaccord Genuity reiterated an “average” rating and set a $125.00 target price on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, February 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $125.43.

Shares of NYSE:CM opened at $83.55 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.06 and a quick ratio of 1.06. Canadian Imperial Bank of Commerce has a 1 year low of $72.96 and a 1 year high of $96.98. The stock has a market cap of $36.73 billion, a PE ratio of 8.95, a PEG ratio of 5.00 and a beta of 1.16.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, February 28th. The bank reported $2.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.37 by ($0.11). The firm had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.51 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.17% and a net margin of 19.44%. As a group, sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 9.19 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Thursday, March 28th were issued a $1.0616 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date was Wednesday, March 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.03. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 45.50%.

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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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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