Corient Private Wealth LP Takes $1.85 Million Position in Canadian Imperial Bank of Commerce $CM

Corient Private Wealth LP acquired a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,047 shares of the bank's stock, valued at approximately $1,846,000.

Several other large investors also recently made changes to their positions in CM. Sequoia Financial Advisors LLC increased its position in Canadian Imperial Bank of Commerce by 1.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 9,716 shares of the bank's stock valued at $880,000 after buying an additional 114 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in Canadian Imperial Bank of Commerce by 3.1% in the fourth quarter. Sivia Capital Partners LLC now owns 3,832 shares of the bank's stock worth $347,000 after acquiring an additional 116 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Canadian Imperial Bank of Commerce by 3.5% in the third quarter. Parallel Advisors LLC now owns 3,404 shares of the bank's stock worth $272,000 after acquiring an additional 116 shares in the last quarter. McIlrath & Eck LLC grew its stake in Canadian Imperial Bank of Commerce by 7.1% in the fourth quarter. McIlrath & Eck LLC now owns 1,936 shares of the bank's stock valued at $175,000 after acquiring an additional 128 shares during the period. Finally, Fifth Third Bancorp grew its stake in Canadian Imperial Bank of Commerce by 12.7% in the fourth quarter. Fifth Third Bancorp now owns 1,337 shares of the bank's stock valued at $121,000 after acquiring an additional 151 shares during the period. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock opened at $118.20 on Friday. The business's fifty day simple moving average is $117.52 and its 200 day simple moving average is $109.60. The firm has a market capitalization of $107.90 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 1.17 and a beta of 1.01. Canadian Imperial Bank of Commerce has a 12 month low of $77.66 and a 12 month high of $124.86. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last posted its quarterly earnings results on Thursday, August 27th. The bank reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.16. Canadian Imperial Bank of Commerce had a net margin of 16.09% and a return on equity of 17.02%. The company had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.74 billion. As a group, analysts anticipate that Canadian Imperial Bank of Commerce will post 7.41 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Monday, September 28th will be paid a dividend of $1.07 per share. The ex-dividend date is Monday, September 28th. This represents a $4.28 annualized dividend and a dividend yield of 3.6%. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 41.39%.

Wall Street Analyst Weigh In

CM has been the topic of a number of recent research reports. TD Securities reiterated a "buy" rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, August 12th. Keefe, Bruyette & Woods began coverage on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 21st. They set a "market perform" rating for the company. Desjardins downgraded shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Tuesday, August 4th. Barclays reaffirmed an "overweight" rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 21st. Finally, Jefferies Financial Group reiterated a "hold" rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $167.00.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce NYSE: CM, commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada's largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC's activities span personal and business banking, wealth management, capital markets and corporate banking.

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