Wealth Alliance Purchases 568 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Wealth Alliance raised its position in shares of Canadian Imperial Bank of Commerce (NYSE:CMFree Report) (TSE:CM) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,699 shares of the bank’s stock after buying an additional 568 shares during the quarter. Wealth Alliance’s holdings in Canadian Imperial Bank of Commerce were worth $490,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Creative Planning lifted its position in Canadian Imperial Bank of Commerce by 6.6% in the 2nd quarter. Creative Planning now owns 24,543 shares of the bank’s stock valued at $1,047,000 after acquiring an additional 1,523 shares in the last quarter. Value Partners Investments Inc. increased its stake in Canadian Imperial Bank of Commerce by 11.8% in the 3rd quarter. Value Partners Investments Inc. now owns 1,673,324 shares of the bank’s stock worth $64,890,000 after buying an additional 176,750 shares in the last quarter. National Bank of Canada FI grew its position in shares of Canadian Imperial Bank of Commerce by 1.5% during the third quarter. National Bank of Canada FI now owns 15,926,778 shares of the bank’s stock worth $599,363,000 after purchasing an additional 230,044 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Canadian Imperial Bank of Commerce by 21.2% during the second quarter. JPMorgan Chase & Co. now owns 6,365,236 shares of the bank’s stock worth $271,668,000 after acquiring an additional 1,112,352 shares during the last quarter. Finally, Cibc World Market Inc. grew its position in shares of Canadian Imperial Bank of Commerce by 1.8% during the second quarter. Cibc World Market Inc. now owns 14,074,792 shares of the bank’s stock valued at $601,416,000 after purchasing an additional 252,515 shares in the last quarter. 43.72% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Stock Performance

Shares of NYSE CM opened at $45.10 on Friday. Canadian Imperial Bank of Commerce has a 12 month low of $34.35 and a 12 month high of $48.92. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.13. The stock has a market cap of $42.02 billion, a price-to-earnings ratio of 11.81, a PEG ratio of 1.98 and a beta of 1.05. The company has a 50 day simple moving average of $45.86 and a two-hundred day simple moving average of $41.55.

Canadian Imperial Bank of Commerce (NYSE:CMGet Free Report) (TSE:CM) last issued its quarterly earnings data on Thursday, November 30th. The bank reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.03. The business had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $4.34 billion. Canadian Imperial Bank of Commerce had a net margin of 8.99% and a return on equity of 13.55%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $1.08 EPS. As a group, analysts predict that Canadian Imperial Bank of Commerce will post 5.24 earnings per share for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 29th. Investors of record on Thursday, December 28th were issued a $0.6623 dividend. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. The ex-dividend date was Wednesday, December 27th. This represents a $2.65 dividend on an annualized basis and a yield of 5.87%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 67.54%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday, December 8th. Bank of America upgraded Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a report on Monday, December 18th. Finally, National Bank Financial raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, December 20th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Read Our Latest Report on Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce Company 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.

Further Reading

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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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