Signaturefd LLC Raises Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Signaturefd LLC lifted its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 22.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,219 shares of the bank’s stock after acquiring an additional 3,549 shares during the quarter. Signaturefd LLC’s holdings in Canadian Imperial Bank of Commerce were worth $925,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on CM shares. Jefferies Financial Group started coverage on Canadian Imperial Bank of Commerce in a research report on Thursday, February 22nd. They set a “buy” rating on the stock. Barclays started coverage on Canadian Imperial Bank of Commerce in a research report on Wednesday, March 20th. They set an “underweight” rating on the stock. Finally, Scotiabank raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

Canadian Imperial Bank of Commerce Trading Up 0.2 %

Shares of CM opened at $47.67 on Tuesday. The firm has a market cap of $44.69 billion, a P/E ratio of 9.85, a price-to-earnings-growth ratio of 2.23 and a beta of 1.06. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a 1 year low of $34.35 and a 1 year high of $51.14. The company has a 50 day simple moving average of $48.47 and a two-hundred day simple moving average of $44.43.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its earnings results on Thursday, February 29th. The bank reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.10. The company had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.47 billion. Canadian Imperial Bank of Commerce had a net margin of 10.79% and a return on equity of 13.07%. On average, equities analysts expect 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 company also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.6634 per share. This represents a $2.65 annualized dividend and a yield of 5.57%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 26.45%.

Canadian Imperial Bank of Commerce Company 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.