Wrapmanager Inc. Decreases Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Wrapmanager Inc. decreased its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,146 shares of the bank’s stock after selling 457 shares during the quarter. Wrapmanager Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $344,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bruce G. Allen Investments LLC acquired a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at $33,000. Janiczek Wealth Management LLC raised its position in shares of Canadian Imperial Bank of Commerce by 34.9% in the 4th quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank’s stock worth $41,000 after buying an additional 222 shares during the period. Hexagon Capital Partners LLC grew its position in Canadian Imperial Bank of Commerce by 152.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 1,692 shares of the bank’s stock valued at $81,000 after acquiring an additional 1,023 shares during the period. NBC Securities Inc. acquired a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at about $106,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $110,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Canadian Imperial Bank of Commerce Stock Performance

NYSE:CM traded up $0.51 during mid-day trading on Thursday, hitting $49.10. The stock had a trading volume of 684,744 shares, compared to its average volume of 1,705,783. The company has a 50 day simple moving average of $48.86 and a 200-day simple moving average of $45.24. The stock has a market capitalization of $46.05 billion, a price-to-earnings ratio of 10.15, a P/E/G ratio of 2.25 and a beta of 1.07. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.16. Canadian Imperial Bank of Commerce has a 52 week low of $34.35 and a 52 week high of $51.14.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, February 29th. The bank reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.10. Canadian Imperial Bank of Commerce had a net margin of 10.79% and a return on equity of 13.07%. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.47 billion. On average, research analysts expect 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 firm also recently announced a quarterly dividend, which was paid on Monday, April 29th. Investors of record on Thursday, March 28th were issued a dividend of $0.6634 per share. This represents a $2.65 dividend on an annualized basis and a yield of 5.40%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. The ex-dividend date was Wednesday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 54.75%.

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.