Janney Montgomery Scott LLC Purchases 5,038 Shares of Canadian Imperial Bank of Commerce (NYSE:CM) Janney Montgomery

Scott LLC boosted its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 148.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,432 shares of the bank’s stock after buying an additional 5,038 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Canadian Imperial Bank of Commerce were worth $738,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board increased its position in shares of Canadian Imperial Bank of Commerce by 3.1% during the 3rd quarter. Canada Pension Plan Investment Board now owns 684,112 shares of the bank’s stock worth $59,717,000 after purchasing an additional 20,350 shares during the last quarter. BB&T Securities LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 141.0% during the 3rd quarter. BB&T Securities LLC now owns 41,653 shares of the bank’s stock worth $3,645,000 after acquiring an additional 24,373 shares during the period. Korea Investment CORP boosted its stake in shares of Canadian Imperial Bank of Commerce by 4.4% during the 3rd quarter. Korea Investment CORP now owns 255,633 shares of the bank’s stock worth $22,314,000 after acquiring an additional 10,660 shares during the period. AXA boosted its stake in shares of Canadian Imperial Bank of Commerce by 11.8% during the 2nd quarter. AXA now owns 464,282 shares of the bank’s stock worth $37,681,000 after acquiring an additional 48,873 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Canadian Imperial Bank of Commerce by 8.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 168,266 shares of the bank’s stock worth $13,655,000 after acquiring an additional 13,818 shares during the period. 44.40% of the stock is currently owned by institutional investors and hedge funds.

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Canadian Imperial Bank of Commerce (NYSE CM) traded up $0.41 during trading hours on Monday, hitting $98.62. The stock had a trading volume of 342,600 shares, compared to its average volume of 337,389. The company has a market cap of $43,590.00, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 4.87 and a beta of 1.12. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.11. Canadian Imperial Bank of Commerce has a 1 year low of $77.20 and a 1 year high of $100.01.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Thursday, November 30th. The bank reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.05 by $0.20. Canadian Imperial Bank of Commerce had a return on equity of 17.57% and a net margin of 22.45%. analysts expect that Canadian Imperial Bank of Commerce will post 8.77 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Thursday, December 28th will be issued a dividend of $1.011 per share. The ex-dividend date of this dividend is Wednesday, December 27th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 4.10%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 44.64%.

Several research analysts have recently commented on the company. Zacks Investment Research upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Monday, December 4th. Barclays upgraded Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research note on Tuesday, December 19th. Credit Suisse Group upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $116.00 to $125.00 in a research note on Friday, December 1st. Scotiabank restated a “hold” rating and issued a $128.00 price target on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, November 22nd. Finally, Citigroup downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and set a $120.00 price target for the company. in a research note on Wednesday, October 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $114.00.

Canadian Imperial Bank of Commerce Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.