Sapient Capital LLC Acquires New Shares in Canadian Imperial Bank of Commerce (NYSE:CM)

Sapient Capital LLC bought a new position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 4th quarter, HoldingsChannel.com reports. The fund bought 4,451 shares of the bank’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CM. Janiczek Wealth Management LLC lifted its stake in Canadian Imperial Bank of Commerce by 34.9% in the fourth quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank’s stock valued at $41,000 after acquiring an additional 222 shares during the last quarter. Raymond James Trust N.A. boosted its stake in shares of Canadian Imperial Bank of Commerce by 2.3% during the 4th quarter. Raymond James Trust N.A. now owns 13,576 shares of the bank’s stock worth $654,000 after acquiring an additional 307 shares in the last quarter. Metis Global Partners LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 0.8% during the 3rd quarter. Metis Global Partners LLC now owns 48,241 shares of the bank’s stock valued at $1,862,000 after acquiring an additional 372 shares during the last quarter. Gradient Investments LLC raised its stake in shares of Canadian Imperial Bank of Commerce by 3.5% in the 3rd quarter. Gradient Investments LLC now owns 10,924 shares of the bank’s stock valued at $422,000 after acquiring an additional 373 shares in the last quarter. Finally, Tobam grew its holdings in Canadian Imperial Bank of Commerce by 7.3% during the fourth quarter. Tobam now owns 7,316 shares of the bank’s stock valued at $354,000 after purchasing an additional 499 shares during the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CM. Jefferies Financial Group started coverage on Canadian Imperial Bank of Commerce in a research note on Thursday, February 22nd. They issued a “buy” rating on the stock. Barclays initiated coverage on Canadian Imperial Bank of Commerce in a report on Wednesday, March 20th. They set an “underweight” rating for the company. Finally, Scotiabank upgraded 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. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.00.

Canadian Imperial Bank of Commerce Stock Performance

NYSE:CM opened at $47.99 on Wednesday. The firm has a market capitalization of $45.01 billion, a PE ratio of 9.92, a price-to-earnings-growth ratio of 2.25 and a beta of 1.07. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16. Canadian Imperial Bank of Commerce has a 12-month low of $34.35 and a 12-month high of $51.14. The firm has a 50-day moving average price of $48.81 and a 200 day moving average price of $45.22.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, February 29th. The bank reported $1.34 EPS for the quarter, beating the consensus estimate of $1.24 by $0.10. Canadian Imperial Bank of Commerce had a return on equity of 13.07% and a net margin of 10.79%. The business had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.47 billion. Research analysts anticipate 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 announced a quarterly dividend, which was paid on Monday, April 29th. Stockholders of record on Thursday, March 28th were paid a $0.6634 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.65 dividend on an annualized basis and a dividend yield of 5.53%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. Canadian Imperial Bank of Commerce’s payout ratio is 54.75%.

About Canadian Imperial Bank of Commerce

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.