Unigestion Holding SA Increases Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Unigestion Holding SA raised its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 0.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 90,658 shares of the bank’s stock after acquiring an additional 500 shares during the period. Unigestion Holding SA’s holdings in Canadian Imperial Bank of Commerce were worth $5,101,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Operose Advisors LLC acquired a new stake in Canadian Imperial Bank of Commerce in the fourth quarter valued at about $26,000. SBI Securities Co. Ltd. purchased a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $30,000. Sandy Spring Bank acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at approximately $32,000. IFP Advisors Inc boosted its stake in shares of Canadian Imperial Bank of Commerce by 318.1% in the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock valued at $34,000 after buying an additional 404 shares in the last quarter. Finally, Lee Danner & Bass Inc. acquired a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth $44,000. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CM. Wall Street Zen raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Saturday, May 24th. BMO Capital Markets increased their price target on shares of Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Friday. Scotiabank began coverage on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 15th. They set a “sector outperform” rating on the stock. Jefferies Financial Group lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Monday, April 21st. Finally, National Bank Financial downgraded shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.00.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock opened at $67.71 on Tuesday. Canadian Imperial Bank of Commerce has a 52 week low of $46.99 and a 52 week high of $69.88. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The firm’s 50-day simple moving average is $61.76 and its 200 day simple moving average is $62.00. The firm has a market capitalization of $63.66 billion, a PE ratio of 12.66, a P/E/G ratio of 1.62 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, May 29th. The bank reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.10. Canadian Imperial Bank of Commerce had a net margin of 11.10% and a return on equity of 14.01%. The company had revenue of $5.09 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the business posted $1.75 earnings per share. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. On average, equities research analysts predict that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be given a dividend of $0.7024 per share. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.67. This represents a $2.81 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Friday, June 27th. Canadian Imperial Bank of Commerce’s payout ratio is currently 47.28%.

Canadian Imperial Bank of Commerce Company 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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.