Russell Investments Group Ltd. Purchases 1,699 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Russell Investments Group Ltd. lifted its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 0.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 369,673 shares of the bank’s stock after buying an additional 1,699 shares during the quarter. Russell Investments Group Ltd.’s holdings in Canadian Imperial Bank of Commerce were worth $17,878,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Bruce G. Allen Investments LLC bought a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at approximately $33,000. Janiczek Wealth Management LLC raised its stake in Canadian Imperial Bank of Commerce by 34.9% during the 4th quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank’s stock valued at $41,000 after purchasing an additional 222 shares during the period. NBC Securities Inc. bought a new stake in Canadian Imperial Bank of Commerce during the 3rd quarter valued at approximately $106,000. SG Americas Securities LLC bought a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at approximately $110,000. Finally, Trust Co. of Toledo NA OH purchased a new position in Canadian Imperial Bank of Commerce during the 4th quarter valued at approximately $204,000. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock opened at $47.31 on Friday. The stock has a market cap of $44.37 billion, a price-to-earnings ratio of 9.77, a price-to-earnings-growth ratio of 2.19 and a beta of 1.07. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50 day moving average price of $48.73 and a 200-day moving average price of $44.88. Canadian Imperial Bank of Commerce has a one year low of $34.35 and a one year high of $51.14.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced 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 firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.47 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.07% and a net margin of 10.79%. Equities analysts expect that Canadian Imperial Bank of Commerce will post 5.04 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 29th. Stockholders of record on Thursday, March 28th were issued a $0.6634 dividend. 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. This represents a $2.65 dividend on an annualized basis and a dividend yield of 5.61%. Canadian Imperial Bank of Commerce’s payout ratio is 26.45%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Canadian Imperial Bank of Commerce in a report on Thursday, February 22nd. They set a “buy” rating for the company. Scotiabank upgraded 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 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 issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.