Savant Capital LLC Raises Stock Position in Canadian Imperial Bank of Commerce $CM

Savant Capital LLC boosted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 21.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,253 shares of the bank’s stock after acquiring an additional 3,610 shares during the period. Savant Capital LLC’s holdings in Canadian Imperial Bank of Commerce were worth $1,435,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. American Century Companies Inc. grew its stake in Canadian Imperial Bank of Commerce by 5.3% during the 1st quarter. American Century Companies Inc. now owns 315,078 shares of the bank’s stock worth $17,724,000 after buying an additional 15,867 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 110.7% during the first quarter. Cerity Partners LLC now owns 32,559 shares of the bank’s stock worth $1,833,000 after acquiring an additional 17,103 shares during the last quarter. J. Safra Sarasin Holding AG acquired a new position in shares of Canadian Imperial Bank of Commerce during the first quarter valued at about $2,221,000. Allianz Asset Management GmbH raised its position in shares of Canadian Imperial Bank of Commerce by 13.7% in the 1st quarter. Allianz Asset Management GmbH now owns 78,376 shares of the bank’s stock valued at $4,408,000 after purchasing an additional 9,426 shares during the last quarter. Finally, CenterBook Partners LP acquired a new stake in Canadian Imperial Bank of Commerce in the 1st quarter worth approximately $1,331,000. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Price Performance

NYSE:CM opened at $87.14 on Thursday. The firm’s fifty day moving average is $81.31 and its two-hundred day moving average is $74.09. The firm has a market cap of $80.93 billion, a price-to-earnings ratio of 14.72, a PEG ratio of 1.76 and a beta of 1.03. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 1.04. Canadian Imperial Bank of Commerce has a one year low of $53.62 and a one year high of $87.16.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, August 28th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.12 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.67% and a net margin of 12.94%.The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.93 EPS. Research analysts expect that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 28th. Stockholders of record on Monday, September 29th were paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, September 29th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. Canadian Imperial Bank of Commerce’s dividend payout ratio is 47.64%.

Analyst Ratings Changes

CM has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, October 8th. Royal Bank Of Canada raised their target price on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Finally, Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Monday, November 3rd. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average price target of $107.50.

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.