Gulf International Bank UK Ltd Has $324,000 Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Gulf International Bank UK Ltd raised its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,390 shares of the bank’s stock after purchasing an additional 236 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Canadian Imperial Bank of Commerce were worth $324,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in CM. Bruce G. Allen Investments LLC acquired a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at $33,000. Glassman Wealth Services lifted its holdings in Canadian Imperial Bank of Commerce by 57.5% during the 4th quarter. Glassman Wealth Services now owns 693 shares of the bank’s stock valued at $33,000 after purchasing an additional 253 shares during the last quarter. Janiczek Wealth Management LLC lifted its holdings in Canadian Imperial Bank of Commerce by 34.9% during the 4th quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank’s stock valued at $41,000 after purchasing an additional 222 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 574.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,066 shares of the bank’s stock worth $51,000 after buying an additional 908 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth $64,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CM. StockNews.com downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Thursday. Barclays initiated coverage on Canadian Imperial Bank of Commerce in a report on Wednesday, March 20th. They set an “underweight” rating for the company. Keefe, Bruyette & Woods raised Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a research note on Monday, June 3rd. Finally, BMO Capital Markets boosted their price target on Canadian Imperial Bank of Commerce from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $67.00.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock opened at $47.46 on Monday. 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 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average price is $48.28 and its two-hundred day moving average price is $47.64. The stock has a market cap of $44.76 billion, a PE ratio of 9.77, a P/E/G ratio of 1.87 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Thursday, May 30th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.07. Canadian Imperial Bank of Commerce had a return on equity of 13.06% and a net margin of 10.46%. The firm had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.48 billion. As a group, analysts expect that Canadian Imperial Bank of Commerce will post 5.05 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be given a $0.653 dividend. This represents a $2.61 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date is Friday, June 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 53.70%.

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.