Guardian Capital LP Increases Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Guardian Capital LP grew its holdings in Canadian Imperial Bank of Commerce (NYSE:CMFree Report) (TSE:CM) by 3,239.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 694,580 shares of the bank’s stock after buying an additional 673,780 shares during the quarter. Canadian Imperial Bank of Commerce makes up about 1.2% of Guardian Capital LP’s investment portfolio, making the stock its 22nd largest holding. Guardian Capital LP’s holdings in Canadian Imperial Bank of Commerce were worth $33,607,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Janney Montgomery Scott LLC lifted its position in Canadian Imperial Bank of Commerce by 3.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 76,935 shares of the bank’s stock valued at $3,704,000 after buying an additional 2,920 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Canadian Imperial Bank of Commerce by 85.8% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 18,881 shares of the bank’s stock valued at $909,000 after acquiring an additional 8,718 shares during the period. Vise Technologies Inc. boosted its stake in Canadian Imperial Bank of Commerce by 19.6% during the fourth quarter. Vise Technologies Inc. now owns 8,009 shares of the bank’s stock worth $386,000 after acquiring an additional 1,314 shares in the last quarter. M&G Investment Management Ltd. increased its stake in shares of Canadian Imperial Bank of Commerce by 1.8% during the fourth quarter. M&G Investment Management Ltd. now owns 215,124 shares of the bank’s stock valued at $10,391,000 after purchasing an additional 3,865 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Canadian Imperial Bank of Commerce by 4.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,200 shares of the bank’s stock valued at $347,000 after purchasing an additional 300 shares during the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CM has been the topic of several recent research reports. Barclays started coverage on Canadian Imperial Bank of Commerce in a research note on Wednesday, March 20th. They issued an “underweight” rating on the stock. Jefferies Financial Group began coverage on Canadian Imperial Bank of Commerce in a report on Thursday, February 22nd. They set a “buy” rating for the company. Finally, Scotiabank upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $63.00.

Get Our Latest Stock Analysis on CM

Canadian Imperial Bank of Commerce Stock Down 0.6 %

Shares of CM stock traded down $0.31 during mid-day trading on Tuesday, hitting $48.99. The company’s stock had a trading volume of 845,061 shares, compared to its average volume of 1,672,943. The stock has a market cap of $45.95 billion, a price-to-earnings ratio of 10.15, a PEG ratio of 2.33 and a beta of 1.07. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05. Canadian Imperial Bank of Commerce has a 52-week low of $34.35 and a 52-week high of $51.14. The business has a 50-day moving average price of $48.93 and a 200 day moving average price of $45.61.

Canadian Imperial Bank of Commerce (NYSE:CMGet Free Report) (TSE:CM) last issued its earnings results on Thursday, February 29th. The bank reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.10. The business 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%. Research analysts predict that Canadian Imperial Bank of Commerce will post 5.03 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 29th. Investors of record on Thursday, March 28th were issued a $0.6634 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.65 annualized dividend and a yield of 5.42%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 54.75%.

Canadian Imperial Bank of Commerce Profile

(Free Report)

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.

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

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