Beverly Hills Private Wealth LLC Has $324,000 Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Beverly Hills Private Wealth LLC reduced its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 23.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,734 shares of the bank’s stock after selling 2,027 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Canadian Imperial Bank of Commerce were worth $324,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CM. Raymond James Financial Services Advisors Inc. lifted its holdings in Canadian Imperial Bank of Commerce by 8.8% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 8,361 shares of the bank’s stock worth $1,017,000 after purchasing an additional 674 shares during the last quarter. US Bancorp DE lifted its holdings in Canadian Imperial Bank of Commerce by 14.7% in the 1st quarter. US Bancorp DE now owns 4,323 shares of the bank’s stock worth $527,000 after purchasing an additional 554 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Canadian Imperial Bank of Commerce by 24.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 6,630 shares of the bank’s stock worth $807,000 after purchasing an additional 1,287 shares during the last quarter. Private Advisor Group LLC lifted its holdings in Canadian Imperial Bank of Commerce by 20.4% in the 1st quarter. Private Advisor Group LLC now owns 4,512 shares of the bank’s stock worth $549,000 after purchasing an additional 763 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of Canadian Imperial Bank of Commerce by 6.4% during the 1st quarter. BlackRock Inc. now owns 308,427 shares of the bank’s stock worth $37,532,000 after purchasing an additional 18,653 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Trading Down 0.7 %

Shares of CM stock opened at $47.71 on Tuesday. Canadian Imperial Bank of Commerce has a 52-week low of $34.35 and a 52-week high of $51.14. The stock has a market cap of $44.73 billion, a price-to-earnings ratio of 9.86, a P/E/G ratio of 2.25 and a beta of 1.06. 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 firm has a fifty day moving average of $48.24 and a 200-day moving average of $44.08.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, February 29th. The bank reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.10. Canadian Imperial Bank of Commerce had a net margin of 10.79% and a return on equity of 13.07%. The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.47 billion. On average, equities research analysts forecast that Canadian Imperial Bank of Commerce will post 5.04 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Thursday, March 28th will be paid 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 is Wednesday, March 27th. This represents a $2.65 dividend on an annualized basis and a dividend yield of 5.56%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 26.45%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Barclays assumed coverage on Canadian Imperial Bank of Commerce in a research report on Wednesday, March 20th. They set an “underweight” rating for the company. Scotiabank raised Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a research report on Tuesday, February 20th. Bank of America raised Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a research report on Monday, December 18th. Jefferies Financial Group began coverage on Canadian Imperial Bank of Commerce in a research report on Thursday, February 22nd. They set a “buy” rating for the company. Finally, National Bank Financial raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.