SG Americas Securities LLC Purchases New Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

SG Americas Securities LLC acquired a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 2,280 shares of the bank’s stock, valued at approximately $110,000.

Several other large investors also recently added to or reduced their stakes in the company. Bruce G. Allen Investments LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $33,000. NewEdge Advisors LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 277.9% during the 1st quarter. NewEdge Advisors LLC now owns 1,126 shares of the bank’s stock valued at $48,000 after buying an additional 828 shares during the period. CENTRAL TRUST Co grew its holdings in shares of Canadian Imperial Bank of Commerce by 77.8% during the 3rd quarter. CENTRAL TRUST Co now owns 1,600 shares of the bank’s stock valued at $70,000 after acquiring an additional 700 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of Canadian Imperial Bank of Commerce in the first quarter worth $295,000. Finally, Advisors Asset Management Inc. raised its holdings in shares of Canadian Imperial Bank of Commerce by 22.7% during the third quarter. Advisors Asset Management Inc. now owns 2,420 shares of the bank’s stock worth $93,000 after acquiring an additional 448 shares in the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Up 0.7 %

Shares of Canadian Imperial Bank of Commerce stock opened at $47.56 on Friday. Canadian Imperial Bank of Commerce has a 12-month low of $34.35 and a 12-month high of $51.14. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16. The stock has a 50 day moving average price of $48.43 and a two-hundred day moving average price of $44.25. The stock has a market capitalization of $44.59 billion, a P/E ratio of 9.83, a PEG ratio of 2.21 and a beta of 1.06.

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, topping analysts’ consensus estimates of $1.24 by $0.10. Canadian Imperial Bank of Commerce had a net margin of 10.79% and a return on equity of 13.07%. The business had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.47 billion. Equities analysts expect 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 company also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.6634 per share. This represents a $2.65 dividend on an annualized basis and a yield of 5.58%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 26.45%.

Analysts Set New Price Targets

CM has been the subject of a number of recent research reports. Jefferies Financial Group started coverage on Canadian Imperial Bank of Commerce in a research note on Thursday, February 22nd. They set a “buy” rating for the company. 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. Finally, Barclays started coverage on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, March 20th. They issued an “underweight” rating for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $63.00.

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.