Canadian Imperial Bank of Commerce $CM Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. raised its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,235,693 shares of the bank’s stock after purchasing an additional 80,640 shares during the period. Franklin Resources Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $112,024,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Sequoia Financial Advisors LLC increased its position in shares of Canadian Imperial Bank of Commerce by 1.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 9,716 shares of the bank’s stock worth $880,000 after purchasing an additional 114 shares in the last quarter. Sivia Capital Partners LLC increased its position in shares of Canadian Imperial Bank of Commerce by 3.1% during the fourth quarter. Sivia Capital Partners LLC now owns 3,832 shares of the bank’s stock worth $347,000 after purchasing an additional 116 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Canadian Imperial Bank of Commerce by 3.5% during the third quarter. Parallel Advisors LLC now owns 3,404 shares of the bank’s stock worth $272,000 after purchasing an additional 116 shares in the last quarter. McIlrath & Eck LLC increased its position in shares of Canadian Imperial Bank of Commerce by 7.1% during the fourth quarter. McIlrath & Eck LLC now owns 1,936 shares of the bank’s stock worth $175,000 after purchasing an additional 128 shares in the last quarter. Finally, Bridgewater Advisors Inc. increased its position in shares of Canadian Imperial Bank of Commerce by 4.2% during the fourth quarter. Bridgewater Advisors Inc. now owns 3,402 shares of the bank’s stock worth $311,000 after purchasing an additional 138 shares in the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CM has been the topic of a number of recent analyst reports. Royal Bank Of Canada upped their price target on Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Zacks Research downgraded Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Weiss Ratings downgraded Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, June 4th. Raymond James Financial reissued a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, May 12th. Finally, Scotiabank lowered shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a report on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and an average price target of $167.00.

Canadian Imperial Bank of Commerce Trading Down 0.5%

CM stock opened at $110.18 on Thursday. The company’s 50-day simple moving average is $108.17 and its 200-day simple moving average is $98.83. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. Canadian Imperial Bank of Commerce has a 52-week low of $67.46 and a 52-week high of $117.05. The firm has a market cap of $100.58 billion, a P/E ratio of 15.13, a PEG ratio of 1.19 and a beta of 1.02.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its earnings results on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. The business had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.86 billion. During the same period in the prior year, the company posted $2.05 EPS. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. As a group, equities analysts forecast that Canadian Imperial Bank of Commerce will post 7.43 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Monday, June 29th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Monday, June 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 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.