Lipe & Dalton Acquires 550 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Lipe & Dalton boosted its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,470 shares of the bank’s stock after acquiring an additional 550 shares during the quarter. Canadian Imperial Bank of Commerce accounts for about 2.4% of Lipe & Dalton’s portfolio, making the stock its 13th largest position. Lipe & Dalton’s holdings in Canadian Imperial Bank of Commerce were worth $4,355,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC bought a new stake in Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $33,000. Janiczek Wealth Management LLC grew its holdings in Canadian Imperial Bank of Commerce by 34.9% during the 4th quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank’s stock worth $41,000 after acquiring an additional 222 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 277.9% in the 1st quarter. NewEdge Advisors LLC now owns 1,126 shares of the bank’s stock valued at $48,000 after purchasing an additional 828 shares during the last quarter. CENTRAL TRUST Co boosted its stake in shares of Canadian Imperial Bank of Commerce by 77.8% in the 3rd quarter. CENTRAL TRUST Co now owns 1,600 shares of the bank’s stock valued at $70,000 after purchasing an additional 700 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at $110,000. 49.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CM has been the topic of a number of analyst reports. Jefferies Financial Group initiated coverage on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, February 22nd. They issued a “buy” rating on the stock. Bank of America raised shares of Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a research note on Monday, December 18th. Scotiabank raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a research note on Tuesday, February 20th. National Bank Financial upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, December 20th. Finally, Barclays started coverage on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, March 20th. They set an “underweight” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.00.

Canadian Imperial Bank of Commerce Stock Down 1.5 %

CM traded down $0.71 during trading on Tuesday, hitting $47.00. 1,730,822 shares of the company’s stock were exchanged, compared to its average volume of 1,841,425. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average is $48.24 and its two-hundred day moving average is $44.08. Canadian Imperial Bank of Commerce has a fifty-two week low of $34.35 and a fifty-two week high of $51.14. The stock has a market cap of $44.06 billion, a P/E ratio of 9.86, a PEG ratio of 2.25 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Thursday, February 29th. The bank reported $1.34 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.47 billion. As a group, 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 firm also recently disclosed 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 is an increase 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 annualized dividend and a yield of 5.65%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 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.