Canadian Imperial Bank of Commerce $CM Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. raised its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,005,916 shares of the bank’s stock after buying an additional 17,517 shares during the period. Federated Hermes Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $71,249,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CM. Truvestments Capital LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 1st quarter valued at $32,000. Ameritas Advisory Services LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce during the second quarter valued at $34,000. Atlantic Union Bankshares Corp purchased a new stake in shares of Canadian Imperial Bank of Commerce during the second quarter valued at $35,000. Elevation Point Wealth Partners LLC acquired a new position in shares of Canadian Imperial Bank of Commerce in the 2nd quarter valued at $43,000. Finally, MAI Capital Management increased its stake in Canadian Imperial Bank of Commerce by 57.5% in the 2nd quarter. MAI Capital Management now owns 737 shares of the bank’s stock worth $52,000 after purchasing an additional 269 shares in the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

CM stock opened at $91.22 on Monday. The firm has a 50 day simple moving average of $83.43 and a 200 day simple moving average of $76.76. Canadian Imperial Bank of Commerce has a 52 week low of $53.62 and a 52 week high of $91.47. The stock has a market cap of $84.72 billion, a P/E ratio of 14.98, a P/E/G ratio of 1.27 and a beta of 1.02. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.04 and a current ratio of 1.04.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Thursday, December 4th. The bank reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.08. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.23 billion. Canadian Imperial Bank of Commerce had a net margin of 13.57% and a return on equity of 14.93%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.91 EPS. Research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Investors of record on Monday, December 29th will be issued a dividend of $1.07 per share. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. This represents a $4.28 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, December 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 46.31%.

Analysts Set New Price Targets

CM has been the subject of a number of analyst reports. Raymond James Financial assumed coverage on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, November 25th. They set a “market perform” rating for the company. Royal Bank Of Canada upped their price target on shares of Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Monday, November 3rd. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

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.