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

Comerica Bank increased its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 33,431 shares of the bank’s stock after buying an additional 1,246 shares during the quarter. Comerica Bank’s holdings in Canadian Imperial Bank of Commerce were worth $2,917,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Fulton Bank N.A. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 4.6% in the 1st quarter. Fulton Bank N.A. now owns 18,538 shares of the bank’s stock worth $1,637,000 after buying an additional 822 shares during the last quarter. Wells Fargo & Company MN raised its stake in Canadian Imperial Bank of Commerce by 9.5% in the 1st quarter. Wells Fargo & Company MN now owns 766,623 shares of the bank’s stock valued at $67,677,000 after acquiring an additional 66,352 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in Canadian Imperial Bank of Commerce by 97.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 8,493 shares of the bank’s stock valued at $827,000 after acquiring an additional 4,183 shares during the period. Elkfork Partners LLC bought a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at about $188,000. Finally, Envestnet Asset Management Inc. raised its stake in Canadian Imperial Bank of Commerce by 81.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 37,629 shares of the bank’s stock valued at $3,665,000 after acquiring an additional 16,871 shares during the period. 44.54% of the stock is currently owned by institutional investors.

A number of equities research analysts recently issued reports on CM shares. Zacks Investment Research cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Wednesday, January 31st. ValuEngine cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $114.86.

Shares of CM opened at $90.95 on Tuesday. Canadian Imperial Bank of Commerce has a twelve month low of $77.33 and a twelve month high of $100.01. The stock has a market cap of $40.16 billion, a PE ratio of 10.22, a P/E/G ratio of 1.67 and a beta of 1.15. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.10.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, February 22nd. The bank reported $2.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.26 by $0.24. Canadian Imperial Bank of Commerce had a return on equity of 17.57% and a net margin of 21.38%. The firm had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.32 billion. sell-side analysts predict that Canadian Imperial Bank of Commerce will post 9.27 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 27th. Stockholders of record on Wednesday, March 28th were given a dividend of $1.047 per share. The ex-dividend date was Tuesday, March 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.01. This represents a $4.19 annualized dividend and a dividend yield of 4.60%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 47.13%.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, 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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