O Shaughnessy Asset Management LLC Purchases 12,297 Shares of Canadian Imperial Bank of Commerce $CM

O Shaughnessy Asset Management LLC increased its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 5.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 238,539 shares of the bank’s stock after purchasing an additional 12,297 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Canadian Imperial Bank of Commerce were worth $21,622,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in Canadian Imperial Bank of Commerce by 119.7% during the third quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock valued at $32,000 after buying an additional 219 shares during the period. Lodestone Wealth Management LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth about $37,000. Smartleaf Asset Management LLC grew its position in shares of Canadian Imperial Bank of Commerce by 128.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 723 shares of the bank’s stock worth $58,000 after buying an additional 406 shares during the period. Aventura Private Wealth LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth about $69,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in shares of Canadian Imperial Bank of Commerce by 87.0% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock worth $69,000 after acquiring an additional 400 shares in the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CM. Weiss Ratings lowered shares of Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday. Scotiabank lowered shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research note on Monday, June 1st. Royal Bank Of Canada boosted their price target on Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Raymond James Financial restated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Finally, Zacks Research downgraded Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and a consensus target price of $167.00.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock opened at $109.61 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $100.05 billion, a P/E ratio of 15.06, a PEG ratio of 1.17 and a beta of 1.02. The stock’s 50 day moving average is $107.44 and its 200 day moving average is $98.45. Canadian Imperial Bank of Commerce has a twelve month low of $67.46 and a twelve month high of $117.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings results on Thursday, May 28th. The bank reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.08. The company had revenue of $5.89 billion for the quarter, compared to the consensus estimate of $5.86 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.05 EPS. On average, equities research analysts predict that Canadian Imperial Bank of Commerce will post 7.43 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Monday, June 29th will be given a $1.07 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $4.28 annualized dividend and a yield of 3.9%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 43.13%.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.