Five Oceans Advisors Invests $226,000 in Canadian Imperial Bank of Commerce $CM

Key Points

• Five Oceans Advisors has invested $226,000 in the Canadian Imperial Bank of Commerce (CIBC), acquiring 3,187 shares in the process during the 2nd quarter.
• The bank's quarterly earnings report revealed an EPS of $1.57, exceeding analysts' expectations of $1.43, with a revenue of $5.24 billion up 3.3% year-over-year.
• CIBC has announced an increase in its quarterly dividend from $0.70 to $0.97 per share, reflecting a 4.8% yield, payable on October 28th for shareholders of record on September 29th.

Five Oceans Advisors acquired a new stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,187 shares of the bank's stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CM. HM Payson & Co. acquired a new position in Canadian Imperial Bank of Commerce in the 1st quarter valued at about $29,000. TruNorth Capital Management LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 156.0% during the first quarter. TruNorth Capital Management LLC now owns 512 shares of the bank's stock worth $29,000 after buying an additional 312 shares in the last quarter. Truvestments Capital LLC acquired a new position in shares of Canadian Imperial Bank of Commerce in the first quarter valued at approximately $32,000. Private Trust Co. NA lifted its stake in shares of Canadian Imperial Bank of Commerce by 40.0% during the first quarter. Private Trust Co. NA now owns 781 shares of the bank's stock valued at $44,000 after buying an additional 223 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in Canadian Imperial Bank of Commerce by 51.1% during the first quarter. Farther Finance Advisors LLC now owns 902 shares of the bank's stock worth $51,000 after acquiring an additional 305 shares during the last quarter. Hedge funds and other institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at $80.35 on Friday. The company has a market cap of $74.69 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 1.74 and a beta of 1.03. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average price of $75.71 and a two-hundred day moving average price of $68.09. Canadian Imperial Bank of Commerce has a 12-month low of $53.62 and a 12-month high of $82.09.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last released its quarterly earnings data on Thursday, August 28th. The bank reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. Canadian Imperial Bank of Commerce had a return on equity of 14.67% and a net margin of 12.94%.The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.12 billion. During the same period last year, the business posted $1.93 EPS. The company's quarterly revenue was up 3.3% compared to the same quarter last year. As a group, research analysts predict that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 28th. Shareholders of record on Monday, September 29th will be paid a dividend of $0.97 per share. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.70. This represents a $3.88 annualized dividend and a yield of 4.8%. The ex-dividend date is Monday, September 29th. Canadian Imperial Bank of Commerce's payout ratio is presently 47.64%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CM shares. BMO Capital Markets increased their price target on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Royal Bank Of Canada increased their target price on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. National Bank Financial lowered Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Finally, Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus 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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