Canadian Imperial Bank of Commerce (NYSE:CM) Shares Purchased by First Bank & Trust

First Bank & Trust boosted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 5.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,256 shares of the bank’s stock after acquiring an additional 2,016 shares during the period. First Bank & Trust’s holdings in Canadian Imperial Bank of Commerce were worth $2,042,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Janiczek Wealth Management LLC lifted its stake in Canadian Imperial Bank of Commerce by 34.9% during the fourth quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank’s stock worth $41,000 after purchasing an additional 222 shares during the last quarter. Gulf International Bank UK Ltd boosted its holdings in shares of Canadian Imperial Bank of Commerce by 3.8% in the 1st quarter. Gulf International Bank UK Ltd now owns 6,390 shares of the bank’s stock valued at $324,000 after buying an additional 236 shares in the last quarter. Glassman Wealth Services boosted its holdings in shares of Canadian Imperial Bank of Commerce by 57.5% in the 4th quarter. Glassman Wealth Services now owns 693 shares of the bank’s stock valued at $33,000 after buying an additional 253 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Canadian Imperial Bank of Commerce by 4.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,200 shares of the bank’s stock valued at $347,000 after buying an additional 300 shares during the last quarter. Finally, Raymond James Trust N.A. raised its stake in Canadian Imperial Bank of Commerce by 2.3% during the 4th quarter. Raymond James Trust N.A. now owns 13,576 shares of the bank’s stock worth $654,000 after acquiring an additional 307 shares in the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE CM traded down $0.32 on Friday, hitting $47.54. The company’s stock had a trading volume of 719,877 shares, compared to its average volume of 1,264,399. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a 50 day moving average of $48.37 and a 200-day moving average of $47.79. Canadian Imperial Bank of Commerce has a 12-month low of $34.35 and a 12-month high of $51.14. The company has a market capitalization of $44.83 billion, a price-to-earnings ratio of 9.78, a price-to-earnings-growth ratio of 1.91 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, May 30th. The bank reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.07. The business had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.48 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.06% and a net margin of 10.46%. As a group, research analysts predict that Canadian Imperial Bank of Commerce will post 5.05 EPS for the current year.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.653 per share. This represents a $2.61 annualized dividend and a dividend yield of 5.49%. The ex-dividend date of this dividend is Friday, June 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 54.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a report on Monday, June 3rd. Barclays began coverage on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, March 20th. They issued an “underweight” rating on the stock. StockNews.com downgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Thursday, June 20th. Finally, BMO Capital Markets boosted their price target on Canadian Imperial Bank of Commerce from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $67.00.

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.