8,145 Shares in Canadian Imperial Bank of Commerce (NYSE:CM) Acquired by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. bought a new position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 8,145 shares of the bank’s stock, valued at approximately $392,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CM. Wellington Management Group LLP lifted its position in shares of Canadian Imperial Bank of Commerce by 187.3% in the 3rd 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 period. CenterBook Partners LP bought a new stake in Canadian Imperial Bank of Commerce during the 3rd quarter valued at $4,509,000. American Century Companies Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 8.7% in the 3rd quarter. American Century Companies Inc. now owns 177,501 shares of the bank’s stock valued at $6,852,000 after acquiring an additional 14,141 shares during the period. Public Sector Pension Investment Board raised its position 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 worth $38,415,000 after acquiring an additional 633,770 shares in the last quarter. Finally, Bank of Nova Scotia Trust Co. lifted its stake in shares of Canadian Imperial Bank of Commerce by 20.4% during the 3rd quarter. Bank of Nova Scotia Trust Co. now owns 563,792 shares of the bank’s stock worth $21,768,000 after purchasing an additional 95,463 shares during the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Up 1.3 %

Shares of CM stock opened at $48.59 on Thursday. The stock has a 50 day simple moving average of $48.81 and a 200-day simple moving average of $45.22. Canadian Imperial Bank of Commerce has a 1-year low of $34.35 and a 1-year high of $51.14. The company has a market cap of $45.57 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 2.25 and a beta of 1.07. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Thursday, February 29th. The bank reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.10. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.47 billion. Canadian Imperial Bank of Commerce had a net margin of 10.79% and a return on equity of 13.07%. On average, equities research 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 was paid on Monday, April 29th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.6634 per share. This represents a $2.65 annualized dividend and a yield of 5.46%. The ex-dividend date was Wednesday, March 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. Canadian Imperial Bank of Commerce’s payout ratio is 54.75%.

Analysts Set New Price Targets

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