Federated Hermes Inc. Has $99.50 Million Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Federated Hermes Inc. lessened its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,066,907 shares of the bank’s stock after selling 127,196 shares during the quarter. Federated Hermes Inc. owned approximately 0.22% of Canadian Imperial Bank of Commerce worth $99,501,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Bruce G. Allen Investments LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at approximately $33,000. 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. NewEdge Advisors LLC lifted its holdings in 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 purchasing an additional 828 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in 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 purchasing an additional 700 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Canadian Imperial Bank of Commerce during the 4th quarter worth $110,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM stock opened at $47.22 on Friday. The business’s 50-day moving average price is $48.38 and its 200-day moving average price is $44.19. Canadian Imperial Bank of Commerce has a 12 month low of $34.35 and a 12 month high of $51.14. The firm has a market capitalization of $44.27 billion, a price-to-earnings ratio of 9.76, a PEG ratio of 2.21 and a beta of 1.06. 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 (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, February 29th. The bank reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.10. Canadian Imperial Bank of Commerce had a return on equity of 13.07% and a net margin of 10.79%. The firm had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.47 billion. Equities research analysts forecast that Canadian Imperial Bank of Commerce will post 5.04 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Thursday, March 28th will be paid a $0.6634 dividend. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. This represents a $2.65 dividend on an annualized basis and a dividend yield of 5.62%. The ex-dividend date of this dividend is Wednesday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is currently 26.45%.

Analyst Upgrades and Downgrades

CM has been the topic of a number of recent analyst reports. Scotiabank upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a research report on Tuesday, February 20th. Barclays initiated 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 initiated coverage on Canadian Imperial Bank of Commerce in a research report on Thursday, February 22nd. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.