12,582 Shares in Canadian Imperial Bank of Commerce (NYSE:CM) Acquired by Hudson Value Partners LLC

Hudson Value Partners LLC acquired a new position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,582 shares of the bank’s stock, valued at approximately $708,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 39,385,238 shares of the bank’s stock worth $2,491,431,000 after buying an additional 749,843 shares in the last quarter. TD Asset Management Inc. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 3.7% during the 4th quarter. TD Asset Management Inc. now owns 23,600,495 shares of the bank’s stock worth $1,492,138,000 after buying an additional 851,164 shares in the last quarter. Toronto Dominion Bank boosted its holdings in shares of Canadian Imperial Bank of Commerce by 1.1% during the 4th quarter. Toronto Dominion Bank now owns 22,138,015 shares of the bank’s stock worth $1,398,619,000 after buying an additional 234,088 shares in the last quarter. FIL Ltd boosted its holdings in shares of Canadian Imperial Bank of Commerce by 53.6% during the 4th quarter. FIL Ltd now owns 12,387,607 shares of the bank’s stock worth $783,613,000 after buying an additional 4,321,451 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 1.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,757,382 shares of the bank’s stock worth $679,613,000 after buying an additional 115,884 shares in the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CM shares. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Monday, April 21st. Royal Bank Of Canada increased their price target on Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the stock an “outperform” rating in a report on Friday, May 30th. BMO Capital Markets increased their price target on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an “outperform” rating in a report on Friday, May 30th. Scotiabank began coverage on Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They set a “sector outperform” rating on the stock. Finally, National Bank Financial lowered Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research report on Friday, May 30th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Canadian Imperial Bank of Commerce currently has an average rating of “Moderate Buy” and a consensus price target of $109.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM opened at $68.88 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16. Canadian Imperial Bank of Commerce has a twelve month low of $47.11 and a twelve month high of $69.88. The stock’s 50 day moving average is $65.07 and its 200-day moving average is $62.36. The firm has a market capitalization of $64.76 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 1.50 and a beta of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, May 29th. The bank reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.10. The business had revenue of $5.09 billion during the quarter, compared to analyst estimates of $4.78 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.51% and a net margin of 12.19%. Canadian Imperial Bank of Commerce’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.75 EPS. Sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be given a $0.7024 dividend. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.67. This represents a $2.81 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend is Friday, June 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 47.10%.

Canadian Imperial Bank of Commerce 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.