Moran Wealth Management LLC bought 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 disclosure with the Securities & Exchange Commission. The fund bought 4,303 shares of the bank's stock, valued at approximately $305,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sequoia Financial Advisors LLC bought a new stake in Canadian Imperial Bank of Commerce during the 2nd quarter worth $461,000. Yousif Capital Management LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 7.3% during the second quarter. Yousif Capital Management LLC now owns 13,561 shares of the bank's stock worth $961,000 after purchasing an additional 920 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 13.9% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 36,154 shares of the bank's stock worth $2,561,000 after purchasing an additional 4,409 shares during the last quarter. PDS Planning Inc grew its holdings in shares of Canadian Imperial Bank of Commerce by 4.0% during the second quarter. PDS Planning Inc now owns 5,655 shares of the bank's stock worth $401,000 after purchasing an additional 217 shares during the last quarter. Finally, JB Capital LLC bought a new stake in shares of Canadian Imperial Bank of Commerce during the second quarter worth about $207,000. Institutional investors own 49.88% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have weighed in on CM. Royal Bank Of Canada boosted their target price on shares of Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Saturday. 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 stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $107.50.
Get Our Latest Analysis on CM
Canadian Imperial Bank of Commerce Stock Up 0.1%
CM stock opened at $80.28 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.14. The stock's 50 day moving average is $78.17 and its 200-day moving average is $70.72. Canadian Imperial Bank of Commerce has a twelve month low of $53.62 and a twelve month high of $82.23. The firm has a market capitalization of $74.63 billion, a PE ratio of 13.56, a P/E/G ratio of 1.70 and a beta of 1.03.
Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last issued its quarterly earnings data on Thursday, August 28th. The bank reported $1.57 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $5.24 billion for the quarter, compared to analysts' expectations of $5.12 billion. During the same period last year, the business earned $1.93 EPS. The business's revenue was up 3.3% on a year-over-year basis. Sell-side analysts expect that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.
Canadian Imperial Bank of Commerce Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 28th. Investors of record on Monday, September 29th will be issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 4.8%. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.70. The ex-dividend date is Monday, September 29th. Canadian Imperial Bank of Commerce's dividend payout ratio is 47.64%.
Canadian Imperial Bank of Commerce Profile
(
Free Report)
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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