Canadian Imperial Bank of Commerce (NYSE:CM) Shares Bought by Glassman Wealth Services

Glassman Wealth Services grew its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 57.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 693 shares of the bank’s stock after purchasing an additional 253 shares during the quarter. Glassman Wealth Services’ holdings in Canadian Imperial Bank of Commerce were worth $33,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bruce G. Allen Investments LLC acquired a new stake in Canadian Imperial Bank of Commerce during the 4th quarter worth $33,000. Janiczek Wealth Management LLC boosted its stake in shares of 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 worth $41,000 after buying an additional 222 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 574.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,066 shares of the bank’s stock worth $51,000 after buying an additional 908 shares during the last quarter. Principal Securities Inc. acquired a new position in Canadian Imperial Bank of Commerce in the 4th quarter valued at about $64,000. Finally, Hexagon Capital Partners LLC raised its stake in Canadian Imperial Bank of Commerce by 152.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,692 shares of the bank’s stock valued at $81,000 after acquiring an additional 1,023 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock traded up $0.43 during midday trading on Thursday, reaching $47.31. 753,409 shares of the company were exchanged, compared to its average volume of 1,759,145. The company has a market capitalization of $44.37 billion, a price-to-earnings ratio of 9.77, a P/E/G ratio of 2.19 and a beta of 1.07. 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’s 50-day simple moving average is $48.72 and its 200-day simple moving average is $44.86. Canadian Imperial Bank of Commerce has a 1 year low of $34.35 and a 1 year high of $51.14.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, February 29th. The bank reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.10. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates 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, analysts anticipate that Canadian Imperial Bank of Commerce will post 5.04 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Thursday, March 28th were given a dividend of $0.6634 per share. This represents a $2.65 dividend on an annualized basis and a yield of 5.61%. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. Canadian Imperial Bank of Commerce’s payout ratio is 26.45%.

Wall Street Analysts Forecast Growth

CM has been the topic of several analyst reports. Jefferies Financial Group assumed coverage on shares of Canadian Imperial Bank of Commerce in a report on Thursday, February 22nd. They issued a “buy” rating on the stock. Scotiabank raised Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a report on Tuesday, February 20th. Finally, Barclays started coverage on Canadian Imperial Bank of Commerce in a research note on Wednesday, March 20th. They set an “underweight” rating for the company. One research 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. According to data from MarketBeat, 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 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.