Vise Technologies Inc. Takes $3.66 Million Position in Canadian Imperial Bank of Commerce $CM

Key Points

• Vise Technologies acquired 31,841 shares of Canadian Imperial Bank of Commerce, worth approximately $3.66 million, during the second quarter. Institutional investors and hedge funds collectively own 49.88% of the bank’s stock.
• CIBC reported quarterly earnings of $1.86 per share, exceeding the $1.78 consensus estimate, while revenue rose 14% year over year to $5.89 billion.
• The bank pays a quarterly dividend of $1.07 per share, equal to an annualized $4.28 dividend and a 3.7% yield. Analysts maintain a “Moderate Buy” consensus rating with a $167 average price target.

Vise Technologies Inc. acquired a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 31,841 shares of the bank's stock, valued at approximately $3,662,000.

Other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC increased its stake in Canadian Imperial Bank of Commerce by 119.7% in the third quarter. Larson Financial Group LLC now owns 402 shares of the bank's stock valued at $32,000 after acquiring an additional 219 shares during the period. EFG International AG bought a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth about $35,000. Bell Investment Advisors Inc bought a new position in Canadian Imperial Bank of Commerce during the second quarter worth about $36,000. Global Assets Advisory LLC acquired a new stake in Canadian Imperial Bank of Commerce during the first quarter valued at approximately $54,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in Canadian Imperial Bank of Commerce by 87.0% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank's stock valued at $69,000 after purchasing an additional 400 shares in the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock opened at $115.78 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $105.69 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 1.28 and a beta of 1.01. Canadian Imperial Bank of Commerce has a 1-year low of $72.57 and a 1-year high of $124.86. The firm's 50-day moving average price is $117.07 and its two-hundred day moving average price is $108.21.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last posted its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. The company had revenue of $5.89 billion during the quarter, compared to analyst estimates of $5.86 billion. During the same quarter last year, the business posted $2.05 earnings per share. The company's revenue was up 14.0% on a year-over-year basis. On average, equities analysts predict that Canadian Imperial Bank of Commerce will post 7.33 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 28th. Investors of record on Monday, June 29th were given a dividend of $1.07 per share. The ex-dividend date was Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a yield of 3.7%. Canadian Imperial Bank of Commerce's dividend payout ratio is 42.58%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Raymond James Financial reissued a "market perform" rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, May 12th. Barclays reaffirmed an "overweight" rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, June 1st. Scotiabank reiterated an "outperform" rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, June 16th. TD Securities reiterated a "buy" rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, August 12th. Finally, Weiss Ratings upgraded Canadian Imperial Bank of Commerce from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday, July 31st. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of "Moderate Buy" and a consensus target price of $167.00.

Canadian Imperial Bank of Commerce 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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