ProVise Management Group LLC purchased a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 2,254 shares of the bank’s stock, valued at approximately $220,000.

A number of other hedge funds also recently modified their holdings of the stock. TD Asset Management Inc. increased its position in Canadian Imperial Bank of Commerce by 0.3% in the 3rd quarter. TD Asset Management Inc. now owns 20,387,661 shares of the bank’s stock valued at $1,779,651,000 after acquiring an additional 59,253 shares during the period. CIBC Asset Management Inc increased its position in Canadian Imperial Bank of Commerce by 8.7% in the 3rd quarter. CIBC Asset Management Inc now owns 8,402,918 shares of the bank’s stock valued at $733,255,000 after acquiring an additional 672,414 shares during the period. Acadian Asset Management LLC increased its position in Canadian Imperial Bank of Commerce by 1.5% in the 4th quarter. Acadian Asset Management LLC now owns 6,689,003 shares of the bank’s stock valued at $654,197,000 after acquiring an additional 98,900 shares during the period. Great West Life Assurance Co. Can increased its position in Canadian Imperial Bank of Commerce by 11.0% in the 3rd quarter. Great West Life Assurance Co. Can now owns 3,830,702 shares of the bank’s stock valued at $334,543,000 after acquiring an additional 380,145 shares during the period. Finally, Legal & General Group Plc increased its position in Canadian Imperial Bank of Commerce by 3.3% in the 3rd quarter. Legal & General Group Plc now owns 2,058,137 shares of the bank’s stock valued at $179,656,000 after acquiring an additional 65,274 shares during the period. Hedge funds and other institutional investors own 44.44% of the company’s stock.

Several equities analysts recently issued reports on CM shares. Credit Suisse Group upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $116.00 to $125.00 in a research report on Friday, December 1st. Scotiabank restated a “hold” rating and issued a $128.00 price target on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, November 22nd. Zacks Investment Research cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Wednesday, January 31st. Citigroup cut Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and set a $120.00 target price on the stock. in a research report on Wednesday, October 25th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $121.00 target price on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, November 30th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and a consensus price target of $114.00.

Canadian Imperial Bank of Commerce (NYSE:CM) opened at $92.40 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.96. Canadian Imperial Bank of Commerce has a 52-week low of $77.20 and a 52-week high of $100.01. The stock has a market capitalization of $40,005.36, a P/E ratio of 10.70, a price-to-earnings-growth ratio of 2.82 and a beta of 1.10.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Thursday, November 30th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.05 by $0.20. Canadian Imperial Bank of Commerce had a return on equity of 17.57% and a net margin of 22.45%. The company had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.29 billion. sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 8.85 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, January 29th. Shareholders of record on Thursday, December 28th were given a dividend of $1.011 per share. This represents a $4.04 annualized dividend and a yield of 4.38%. The ex-dividend date of this dividend was Wednesday, December 27th. Canadian Imperial Bank of Commerce’s payout ratio is 49.01%.

COPYRIGHT VIOLATION WARNING: This article was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this article on another publication, it was copied illegally and republished in violation of United States and international copyright legislation. The original version of this article can be read at https://www.thecerbatgem.com/2018/02/15/provise-management-group-llc-purchases-shares-of-2254-canadian-imperial-bank-of-commerce-cm.html.

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.

Want to see what other hedge funds are holding CM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM).

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

Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.