Canadian Imperial Bank of Commerce (CM) Position Raised by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. increased its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 97.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,493 shares of the bank’s stock after purchasing an additional 4,183 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $827,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CM. Deutsche Bank AG increased its position in shares of Canadian Imperial Bank of Commerce by 34.9% during the 4th quarter. Deutsche Bank AG now owns 4,564,287 shares of the bank’s stock worth $444,602,000 after purchasing an additional 1,180,677 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Canadian Imperial Bank of Commerce by 29.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 4,001,907 shares of the bank’s stock worth $389,826,000 after acquiring an additional 902,119 shares during the last quarter. Picton Mahoney Asset Management bought a new stake in Canadian Imperial Bank of Commerce during the 4th quarter worth about $85,641,000. Mackenzie Financial Corp grew its holdings in Canadian Imperial Bank of Commerce by 45.8% during the 4th quarter. Mackenzie Financial Corp now owns 2,153,508 shares of the bank’s stock worth $209,773,000 after acquiring an additional 676,619 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Canadian Imperial Bank of Commerce by 50.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,412,269 shares of the bank’s stock worth $137,568,000 after acquiring an additional 474,283 shares during the last quarter. Institutional investors and hedge funds own 46.63% of the company’s stock.

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CM has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. Barclays raised shares of Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a report on Tuesday, December 19th. Finally, ValuEngine lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $115.86.

Shares of NYSE CM opened at $87.27 on Monday. The stock has a market capitalization of $38,778.77, a PE ratio of 9.82, a price-to-earnings-growth ratio of 1.61 and a beta of 1.15. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.04 and a current ratio of 1.04. Canadian Imperial Bank of Commerce has a 1 year low of $77.20 and a 1 year high of $100.01.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, February 22nd. The bank reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.24. The company had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.32 billion. Canadian Imperial Bank of Commerce had a net margin of 21.38% and a return on equity of 17.57%. analysts expect that Canadian Imperial Bank of Commerce will post 9.31 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Wednesday, March 28th will be paid a $1.047 dividend. This represents a $4.19 annualized dividend and a dividend yield of 4.80%. The ex-dividend date is Tuesday, March 27th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.01. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 47.13%.

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About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce operates as a global financial institution, which provides a full range of financial products and services to individual, small business, commercial, corporate and institutional clients. It operates through the following segments: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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

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