Ascent Group LLC Makes New Investment in Canadian Imperial Bank of Commerce $CM

Ascent Group LLC bought a new position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,556 shares of the bank's stock, valued at approximately $252,000.

Several other large investors have also bought and sold shares of the company. Parallel Advisors LLC raised its holdings in Canadian Imperial Bank of Commerce by 5.1% in the second quarter. Parallel Advisors LLC now owns 3,288 shares of the bank's stock worth $233,000 after buying an additional 160 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Canadian Imperial Bank of Commerce by 0.3% in the second quarter. Janney Montgomery Scott LLC now owns 53,477 shares of the bank's stock worth $3,788,000 after buying an additional 173 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Canadian Imperial Bank of Commerce by 4.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank's stock worth $255,000 after buying an additional 194 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in Canadian Imperial Bank of Commerce by 5.3% in the first quarter. Benjamin Edwards Inc. now owns 4,320 shares of the bank's stock worth $243,000 after buying an additional 216 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings in Canadian Imperial Bank of Commerce by 40.0% in the first quarter. Private Trust Co. NA now owns 781 shares of the bank's stock worth $44,000 after buying an additional 223 shares during the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Stock Performance

CM opened at $80.43 on Thursday. The firm has a market cap of $74.77 billion, a P/E ratio of 13.59, a PEG ratio of 1.73 and a beta of 1.03. Canadian Imperial Bank of Commerce has a 1-year low of $53.62 and a 1-year high of $82.23. The company has a 50 day simple moving average of $77.01 and a two-hundred day simple moving average of $69.60. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.04 and a quick ratio of 1.04.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last posted its quarterly earnings results on Thursday, August 28th. The bank reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.12 billion. Canadian Imperial Bank of Commerce had a net margin of 12.94% and a return on equity of 14.67%. The company's revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.93 earnings per share. Equities analysts forecast 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, October 28th. Investors of record on Monday, September 29th will be given a dividend of $0.97 per share. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.70. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Monday, September 29th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is currently 47.64%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Wall Street Zen lowered shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research note on Saturday, October 4th. Weiss Ratings reiterated a "buy (b)" rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday. Finally, Royal Bank Of Canada lifted their price target on shares of Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $107.50.

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.

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