Sivia Capital Partners LLC Makes New Investment in Canadian Imperial Bank of Commerce $CM

Key Points

• Sivia Capital Partners LLC acquired 3,692 shares of Canadian Imperial Bank of Commerce, valued at approximately $262,000, indicating growing interest from institutional investors.
• The bank announced a quarterly dividend increase to $0.97 per share, up from $0.70, representing a 4.8% yield with a payout ratio of 47.64%.
• Analysts are optimistic about the bank's performance, with a consensus target price of $107.50 and ratings ranging from "Buy" to "Hold" from various financial institutions.

Sivia Capital Partners LLC acquired a new stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,692 shares of the bank's stock, valued at approximately $262,000.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Canadian Imperial Bank of Commerce by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 40,028,162 shares of the bank's stock valued at $2,251,664,000 after purchasing an additional 642,924 shares during the period. Bank of Nova Scotia increased its holdings in Canadian Imperial Bank of Commerce by 4.5% in the first quarter. Bank of Nova Scotia now owns 17,967,436 shares of the bank's stock valued at $1,010,849,000 after purchasing an additional 773,174 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Canadian Imperial Bank of Commerce by 31.6% in the first quarter. JPMorgan Chase & Co. now owns 10,581,914 shares of the bank's stock valued at $595,762,000 after buying an additional 2,538,808 shares during the period. Mackenzie Financial Corp lifted its stake in Canadian Imperial Bank of Commerce by 41.1% in the fourth quarter. Mackenzie Financial Corp now owns 6,835,795 shares of the bank's stock valued at $431,952,000 after buying an additional 1,990,520 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in Canadian Imperial Bank of Commerce by 23.0% during the first quarter. Canada Pension Plan Investment Board now owns 6,055,999 shares of the bank's stock worth $340,721,000 after buying an additional 1,133,715 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Stock Down 0.4%

CM traded down $0.29 during trading on Monday, hitting $81.30. The company had a trading volume of 1,452,259 shares, compared to its average volume of 1,199,187. The company has a market capitalization of $75.58 billion, a PE ratio of 13.73, a PEG ratio of 1.76 and a beta of 1.03. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a one year low of $53.62 and a one year high of $81.70. The firm's 50-day moving average price is $75.21 and its 200 day moving average price is $67.73.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last released its quarterly earnings results on Thursday, August 28th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.12 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.67% and a net margin of 12.94%.The company's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $1.93 EPS. As a group, equities analysts expect that Canadian Imperial Bank of Commerce will post 5.5 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 Tuesday, October 28th. Shareholders of record on Monday, September 29th will be given a dividend of $0.97 per share. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Monday, September 29th. This represents a $3.88 dividend on an annualized basis and a yield of 4.8%. Canadian Imperial Bank of Commerce's payout ratio is currently 47.64%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CM. National Bank Financial cut Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Royal Bank Of Canada upped their target price on shares of Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the company an "outperform" rating in a research note on Friday, August 29th. Wall Street Zen upgraded shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, BMO Capital Markets boosted their price target on shares of Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $107.50.

Canadian Imperial Bank of Commerce Company 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.