GAMMA Investing LLC Has $1.15 Million Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

GAMMA Investing LLC increased its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 5,530.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,437 shares of the bank's stock after purchasing an additional 20,074 shares during the period. GAMMA Investing LLC's holdings in Canadian Imperial Bank of Commerce were worth $1,151,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in CM. PDS Planning Inc boosted its position in shares of Canadian Imperial Bank of Commerce by 3.8% during the fourth quarter. PDS Planning Inc now owns 5,167 shares of the bank's stock worth $327,000 after buying an additional 189 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in Canadian Imperial Bank of Commerce by 4.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank's stock worth $255,000 after acquiring an additional 194 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its position in Canadian Imperial Bank of Commerce by 0.7% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 33,094 shares of the bank's stock worth $2,092,000 after acquiring an additional 222 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 7.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,977 shares of the bank's stock worth $251,000 after acquiring an additional 279 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in Canadian Imperial Bank of Commerce by 7.3% in the 4th quarter. Blair William & Co. IL now owns 5,658 shares of the bank's stock valued at $358,000 after buying an additional 383 shares during the last quarter. Institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM traded up $0.58 during trading hours on Monday, hitting $68.71. The company had a trading volume of 1,053,452 shares, compared to its average volume of 1,073,601. The business has a fifty day moving average of $63.86 and a 200-day moving average of $62.22. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The firm has a market cap of $64.60 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 1.62 and a beta of 1.05. Canadian Imperial Bank of Commerce has a 12 month low of $47.07 and a 12 month high of $69.88.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last issued its quarterly earnings data on Thursday, May 29th. The bank reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.10. Canadian Imperial Bank of Commerce had a net margin of 11.10% and a return on equity of 14.01%. The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the business posted $1.75 earnings per share. The business's revenue for the quarter was up 13.9% compared to the same quarter last year. Equities analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be paid a $0.7024 dividend. The ex-dividend date is Friday, June 27th. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. This represents a $2.81 annualized dividend and a yield of 4.09%. Canadian Imperial Bank of Commerce's payout ratio is 49.56%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CM shares. Scotiabank assumed coverage on Canadian Imperial Bank of Commerce in a research note on Thursday, May 15th. They issued a "sector outperform" rating for the company. National Bank Financial lowered shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. Jefferies Financial Group downgraded shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Royal Bank of Canada upped their target price on shares of Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Finally, Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $109.00.

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.