Fmr LLC raised its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 8.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 645,711 shares of the company’s stock after buying an additional 50,231 shares during the period. Fmr LLC’s holdings in Canadian Imperial Bank of Commerce were worth $52,690,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Federated Investors Inc. PA raised its stake in shares of Canadian Imperial Bank of Commerce by 14.6% in the fourth quarter. Federated Investors Inc. PA now owns 74,793 shares of the company’s stock valued at $6,103,000 after buying an additional 9,515 shares during the period. Investec Asset Management North America Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 37.2% in the fourth quarter. Investec Asset Management North America Inc. now owns 167,404 shares of the company’s stock valued at $13,676,000 after buying an additional 45,365 shares during the period. Investec Asset Management PTY Ltd raised its stake in shares of Canadian Imperial Bank of Commerce by 0.4% in the fourth quarter. Investec Asset Management PTY Ltd now owns 11,379 shares of the company’s stock valued at $934,000 after buying an additional 49 shares during the period. Investec Asset Management LTD raised its stake in shares of Canadian Imperial Bank of Commerce by 9.9% in the fourth quarter. Investec Asset Management LTD now owns 3,170,014 shares of the company’s stock valued at $258,981,000 after buying an additional 284,938 shares during the period. Finally, Baird Financial Group Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 19.3% in the fourth quarter. Baird Financial Group Inc. now owns 38,471 shares of the company’s stock valued at $3,139,000 after buying an additional 6,235 shares during the period. Institutional investors own 53.01% of the company’s stock.

Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

Canadian Imperial Bank of Commerce (NYSE:CM) opened at 87.72 on Tuesday. The company has a market capitalization of $35.05 billion, a price-to-earnings ratio of 10.05 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 52-week low of $71.15 and a 52-week high of $92.22. The firm has a 50 day moving average of $88.18 and a 200-day moving average of $81.54.

Canadian Imperial Bank of Commerce (NYSE:CM) last issued its quarterly earnings data on Thursday, February 23rd. The company reported $2.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.96 by $0.25. Canadian Imperial Bank of Commerce had a return on equity of 19.11% and a net margin of 22.84%. During the same quarter in the prior year, the firm posted $2.55 EPS. Equities analysts expect that Canadian Imperial Bank of Commerce will post $8.05 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Tuesday, March 28th will be paid a dividend of $0.9698 per share. This represents a $3.88 annualized dividend and a yield of 4.42%. The ex-dividend date is Friday, March 24th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.87. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 45.28%.

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Several brokerages recently issued reports on CM. Zacks Investment Research lowered shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 24th. Keefe, Bruyette & Woods upgraded shares of Canadian Imperial Bank of Commerce from an “underperform” rating to a “mkt perform” rating in a research report on Friday, February 24th. Finally, TD Securities restated a “hold” rating and set a $115.00 target price (up from $110.00) on shares of Canadian Imperial Bank of Commerce in a research report on Sunday, December 4th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $99.71.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

5 Day Chart for NYSE:CM

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