O Shaughnessy Asset Management LLC Acquires 12,297 Shares of Canadian Imperial Bank of Commerce $CM

O Shaughnessy Asset Management LLC boosted its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 5.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 238,539 shares of the bank’s stock after acquiring an additional 12,297 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Canadian Imperial Bank of Commerce were worth $21,622,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CM. Larson Financial Group LLC lifted its position in Canadian Imperial Bank of Commerce by 119.7% in the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock valued at $32,000 after acquiring an additional 219 shares in the last quarter. Lodestone Wealth Management LLC bought a new position in Canadian Imperial Bank of Commerce in the 4th quarter valued at approximately $37,000. Smartleaf Asset Management LLC lifted its position in Canadian Imperial Bank of Commerce by 128.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 723 shares of the bank’s stock valued at $58,000 after acquiring an additional 406 shares in the last quarter. Aventura Private Wealth LLC bought a new position in Canadian Imperial Bank of Commerce in the 4th quarter valued at approximately $69,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in Canadian Imperial Bank of Commerce by 87.0% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock valued at $69,000 after acquiring an additional 400 shares in the last quarter. 49.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CM shares. Royal Bank Of Canada upped their price objective on Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Weiss Ratings cut Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday. Zacks Research cut Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Jefferies Financial Group reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 28th. Finally, Scotiabank cut Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a report on Monday, June 1st. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $167.00.

Canadian Imperial Bank of Commerce Price Performance

NYSE CM opened at $109.61 on Tuesday. The business’s fifty day moving average price is $107.44 and its 200-day moving average price is $98.45. The stock has a market capitalization of $100.05 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 1.17 and a beta of 1.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a 1-year low of $67.46 and a 1-year high of $117.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, May 28th. The bank reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The firm had revenue of $5.89 billion for the quarter, compared to analysts’ expectations of $5.86 billion. During the same period in the prior year, the firm earned $2.05 EPS. The company’s revenue was up 14.0% compared to the same quarter last year. On average, equities analysts predict that Canadian Imperial Bank of Commerce will post 7.43 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Monday, June 29th will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Monday, June 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 43.13%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.