Janney Montgomery Scott LLC Raises Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Janney Montgomery Scott LLC grew its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,935 shares of the bank’s stock after purchasing an additional 2,920 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Canadian Imperial Bank of Commerce were worth $3,704,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CM. Vanguard Group Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 33,841,855 shares of the bank’s stock worth $1,306,634,000 after acquiring an additional 544,942 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Canadian Imperial Bank of Commerce by 1.8% during the third quarter. Toronto Dominion Bank now owns 26,965,878 shares of the bank’s stock worth $1,041,153,000 after buying an additional 476,342 shares during the last quarter. Legal & General Group Plc raised its stake in Canadian Imperial Bank of Commerce by 5.1% during the 3rd quarter. Legal & General Group Plc now owns 5,185,512 shares of the bank’s stock valued at $201,082,000 after acquiring an additional 251,039 shares during the last quarter. Scotia Capital Inc. lifted its position in Canadian Imperial Bank of Commerce by 0.6% during the 3rd quarter. Scotia Capital Inc. now owns 4,190,637 shares of the bank’s stock worth $161,672,000 after acquiring an additional 23,052 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Canadian Imperial Bank of Commerce by 14.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,556,632 shares of the bank’s stock valued at $137,282,000 after purchasing an additional 438,978 shares during the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Trading Down 1.3 %

Shares of CM opened at $48.41 on Thursday. Canadian Imperial Bank of Commerce has a twelve month low of $34.35 and a twelve month high of $51.14. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $45.40 billion, a P/E ratio of 10.00, a PEG ratio of 2.23 and a beta of 1.07. The firm’s 50-day moving average is $48.87 and its two-hundred day moving average is $46.18.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Thursday, February 29th. The bank reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.10. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.47 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.07% and a net margin of 10.79%. On average, research analysts predict that Canadian Imperial Bank of Commerce will post 5.03 earnings per share 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 5.48%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Wednesday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 54.75%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CM shares. Barclays initiated 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. Jefferies Financial Group started coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, February 22nd. They issued a “buy” rating for the company. Finally, Scotiabank upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a research report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $63.00.

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.