12,400 Shares in Canadian Imperial Bank of Commerce (NYSE:CM) Acquired by AJOVista LLC

AJOVista LLC bought a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the fourth quarter, HoldingsChannel.com reports. The firm bought 12,400 shares of the bank’s stock, valued at approximately $597,000. Canadian Imperial Bank of Commerce accounts for 0.8% of AJOVista LLC’s portfolio, making the stock its 20th biggest position.

Several other large investors also recently bought and sold shares of the stock. Wellington Management Group LLP lifted its stake in 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 acquired a new position in Canadian Imperial Bank of Commerce in the third quarter valued at $4,509,000. American Century Companies Inc. increased its position in shares of 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 in the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Canadian Imperial Bank of Commerce by 177.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 990,605 shares of the bank’s stock valued at $38,415,000 after purchasing an additional 633,770 shares during the last quarter. Finally, Bank of Nova Scotia Trust Co. boosted its position 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 period. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Canadian Imperial Bank of Commerce Price Performance

NYSE:CM traded up $0.57 during trading hours on Friday, hitting $47.88. The company’s stock had a trading volume of 834,741 shares, compared to its average volume of 1,297,803. The company has a market capitalization of $44.91 billion, a PE ratio of 9.89, a PEG ratio of 2.25 and a beta of 1.07. Canadian Imperial Bank of Commerce has a 52-week low of $34.35 and a 52-week high of $51.14. The business’s 50-day moving average is $48.75 and its two-hundred day moving average is $44.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, February 29th. The bank reported $1.34 EPS for the quarter, topping the consensus estimate of $1.24 by $0.10. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.47 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.07% and a net margin of 10.79%. As a group, research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Monday, April 29th. Investors of record on Thursday, March 28th were paid a $0.6634 dividend. This represents a $2.65 dividend on an annualized basis and a yield of 5.54%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. The ex-dividend date was Wednesday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 54.75%.

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.