Clearbridge Investments LLC Has $46.53 Million Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Clearbridge Investments LLC reduced its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 917,422 shares of the bank’s stock after selling 12,769 shares during the quarter. Clearbridge Investments LLC owned about 0.10% of Canadian Imperial Bank of Commerce worth $46,532,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Janiczek Wealth Management LLC increased its position 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 acquiring an additional 222 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in shares of Canadian Imperial Bank of Commerce by 3.8% in the first quarter. Gulf International Bank UK Ltd now owns 6,390 shares of the bank’s stock worth $324,000 after purchasing an additional 236 shares during the last quarter. Glassman Wealth Services lifted its holdings in shares of Canadian Imperial Bank of Commerce by 57.5% in the fourth quarter. Glassman Wealth Services now owns 693 shares of the bank’s stock valued at $33,000 after purchasing an additional 253 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Canadian Imperial Bank of Commerce by 4.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,200 shares of the bank’s stock valued at $347,000 after buying an additional 300 shares during the last quarter. Finally, Bleakley Financial Group LLC grew its holdings in Canadian Imperial Bank of Commerce by 5.3% during the first quarter. Bleakley Financial Group LLC now owns 6,208 shares of the bank’s stock worth $315,000 after buying an additional 314 shares in the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM traded down $0.01 during trading hours on Tuesday, hitting $50.65. The company’s stock had a trading volume of 818,596 shares, compared to its average volume of 1,539,770. The business has a 50 day simple moving average of $48.76 and a two-hundred day simple moving average of $48.03. Canadian Imperial Bank of Commerce has a 52-week low of $34.35 and a 52-week high of $51.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market cap of $47.76 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 1.97 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Thursday, May 30th. The bank reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.07. The business had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.48 billion. Canadian Imperial Bank of Commerce had a net margin of 10.46% and a return on equity of 13.06%. On average, equities analysts expect that Canadian Imperial Bank of Commerce will post 5.05 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be issued a dividend of $0.653 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.61 dividend on an annualized basis and a yield of 5.16%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 54.32%.

Analysts Set New Price Targets

Several equities analysts have weighed in on CM shares. UBS Group started coverage on Canadian Imperial Bank of Commerce in a research note on Tuesday, July 2nd. They set a “neutral” rating on the stock. Keefe, Bruyette & Woods raised shares of Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a research report on Monday, June 3rd. StockNews.com cut shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, BMO Capital Markets upped their target price on Canadian Imperial Bank of Commerce from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of “Hold” and a consensus price target of $67.00.

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.