West Family Investments Inc. Buys Shares of 5,568 Canadian Imperial Bank of Commerce (NYSE:CM)

West Family Investments Inc. bought a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 5,568 shares of the bank’s stock, valued at approximately $268,000.

Several other institutional investors also recently bought and sold shares of the company. Intact Investment Management Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 299.1% during the third quarter. Intact Investment Management Inc. now owns 2,575,873 shares of the bank’s stock worth $99,428,000 after purchasing an additional 1,930,440 shares during the last quarter. Triasima Portfolio Management inc. purchased a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $35,234,000. Public Sector Pension Investment Board raised its stake in shares of Canadian Imperial Bank of Commerce by 177.6% during the third quarter. Public Sector Pension Investment Board now owns 990,605 shares of the bank’s stock worth $38,415,000 after purchasing an additional 633,770 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 1.6% during the third quarter. Vanguard Group Inc. now owns 33,841,855 shares of the bank’s stock worth $1,306,634,000 after purchasing an additional 544,942 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in Canadian Imperial Bank of Commerce by 1.8% during the third quarter. Toronto Dominion Bank now owns 26,965,878 shares of the bank’s stock worth $1,041,153,000 after acquiring an additional 476,342 shares during the period. 49.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Scotiabank raised Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a report on Tuesday, February 20th. Barclays began coverage on Canadian Imperial Bank of Commerce in a research report on Wednesday, March 20th. They issued an “underweight” rating on the stock. Finally, Jefferies Financial Group began coverage on Canadian Imperial Bank of Commerce in a research report on Thursday, February 22nd. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Canadian Imperial Bank of Commerce Trading Up 0.7 %

Shares of Canadian Imperial Bank of Commerce stock traded up $0.34 during trading hours on Thursday, reaching $47.22. The stock had a trading volume of 252,227 shares, compared to its average volume of 1,753,029. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.16. Canadian Imperial Bank of Commerce has a 1 year low of $34.35 and a 1 year high of $51.14. The firm has a market capitalization of $44.29 billion, a price-to-earnings ratio of 9.69, a P/E/G ratio of 2.19 and a beta of 1.07. The firm has a 50 day simple moving average of $48.72 and a two-hundred day simple moving average of $44.86.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, February 29th. The bank reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.10. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.47 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.07% and a net margin of 10.79%. As a group, equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.04 earnings per share for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.6634 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.65 annualized dividend and a yield of 5.62%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. Canadian Imperial Bank of Commerce’s payout ratio is presently 26.45%.

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.