Fulton Bank N.A. Has $1.73 Million Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

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Fulton Bank N.A. increased its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,996 shares of the bank’s stock after purchasing an additional 314 shares during the period. Fulton Bank N.A.’s holdings in Canadian Imperial Bank of Commerce were worth $1,728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CM. Norges Bank acquired a new position in Canadian Imperial Bank of Commerce in the 4th quarter worth $309,767,000. Toronto Dominion Bank boosted its stake in Canadian Imperial Bank of Commerce by 15.6% in the 1st quarter. Toronto Dominion Bank now owns 13,910,392 shares of the bank’s stock worth $1,099,327,000 after purchasing an additional 1,881,024 shares during the period. APG Asset Management N.V. boosted its stake in Canadian Imperial Bank of Commerce by 34.4% in the 4th quarter. APG Asset Management N.V. now owns 3,418,660 shares of the bank’s stock worth $222,641,000 after purchasing an additional 874,400 shares during the period. Beutel Goodman & Co Ltd. boosted its stake in Canadian Imperial Bank of Commerce by 105.6% in the 1st quarter. Beutel Goodman & Co Ltd. now owns 1,565,565 shares of the bank’s stock worth $123,712,000 after purchasing an additional 804,140 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in Canadian Imperial Bank of Commerce in the 1st quarter worth $66,073,000. 45.59% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on CM shares. TD Securities downgraded shares of First Quantum Minerals from an “action list buy” rating to a “buy” rating and reduced their price objective for the stock from C$21.00 to C$18.50 in a research note on Thursday, May 23rd. BMO Capital Markets reaffirmed a “hold” rating on shares of Royal Bank of Canada in a report on Thursday, May 23rd. Barclays reissued a “hold” rating on shares of Bank of Montreal in a report on Tuesday, June 11th. Canaccord Genuity reissued a “buy” rating on shares of Toronto-Dominion Bank in a report on Thursday, May 23rd. Finally, Zacks Investment Research raised shares of Investors Real Estate Trust Reit from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $122.60.

Canadian Imperial Bank of Commerce stock traded up $0.06 during trading hours on Tuesday, hitting $78.45. The company had a trading volume of 250,287 shares, compared to its average volume of 401,783. The stock has a market capitalization of $35.03 billion, a price-to-earnings ratio of 8.40, a PEG ratio of 6.94 and a beta of 1.16. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.12. Canadian Imperial Bank of Commerce has a one year low of $72.96 and a one year high of $96.98. The business’s 50-day moving average is $78.60.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Wednesday, May 22nd. The bank reported $2.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.22 by $0.75. Canadian Imperial Bank of Commerce had a net margin of 18.83% and a return on equity of 16.30%. The company had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.36 billion. During the same period last year, the firm earned $2.95 earnings per share. Equities analysts expect that Canadian Imperial Bank of Commerce will post 8.99 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Friday, June 28th will be issued a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $4.16 annualized dividend and a dividend yield of 5.30%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 44.33%.

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 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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