Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC decreased its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 23.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,734 shares of the bank’s stock after selling 2,027 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Canadian Imperial Bank of Commerce were worth $324,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in shares of Canadian Imperial Bank of Commerce by 187.3% during the third quarter. Wellington Management Group LLP now owns 266,581 shares of the bank’s stock worth $10,338,000 after purchasing an additional 173,801 shares during the last quarter. CenterBook Partners LP purchased a new stake in Canadian Imperial Bank of Commerce in the third quarter valued at approximately $4,509,000. American Century Companies Inc. increased its position in Canadian Imperial Bank of Commerce by 8.7% during the third quarter. American Century Companies Inc. now owns 177,501 shares of the bank’s stock worth $6,852,000 after purchasing an additional 14,141 shares during the last quarter. Public Sector Pension Investment Board raised its stake in Canadian Imperial Bank of Commerce by 177.6% during the third quarter. Public Sector Pension Investment Board now owns 990,605 shares of the bank’s stock worth $38,415,000 after purchasing an additional 633,770 shares during the period. Finally, Bank of Nova Scotia Trust Co. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 20.4% in the 3rd quarter. Bank of Nova Scotia Trust Co. now owns 563,792 shares of the bank’s stock valued at $21,768,000 after purchasing an additional 95,463 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Down 0.7 %

CM opened at $47.71 on Tuesday. The firm has a market capitalization of $44.73 billion, a P/E ratio of 9.86, a P/E/G ratio of 2.25 and a beta of 1.06. The firm’s 50 day moving average is $48.24 and its 200-day moving average is $44.08. Canadian Imperial Bank of Commerce has a 52-week low of $34.35 and a 52-week high of $51.14. 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 (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, February 29th. The bank reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.10. Canadian Imperial Bank of Commerce had a net margin of 10.79% and a return on equity of 13.07%. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.47 billion. Analysts expect that Canadian Imperial Bank of Commerce will post 5.04 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, March 28th will be given a $0.6634 dividend. This represents a $2.65 dividend on an annualized basis and a dividend yield of 5.56%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 26.45%.

Analyst Ratings Changes

Several research analysts recently weighed in on CM shares. Scotiabank raised Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a research report on Tuesday, February 20th. National Bank Financial upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating in a report on Wednesday, December 20th. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a report on Monday, December 18th. Jefferies Financial Group initiated coverage on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, February 22nd. They set a “buy” rating for the company. Finally, Barclays started 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.00.

About Canadian Imperial Bank of Commerce

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.