Creative Planning Has $1.01 Million Stake in Canadian Imperial Bank of Commerce (CM)

Creative Planning grew its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 7.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,796 shares of the bank’s stock after buying an additional 761 shares during the quarter. Creative Planning’s holdings in Canadian Imperial Bank of Commerce were worth $1,012,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CM. Gulf International Bank UK Ltd grew its stake in shares of Canadian Imperial Bank of Commerce by 1.7% during the second quarter. Gulf International Bank UK Ltd now owns 140,385 shares of the bank’s stock valued at $12,224,000 after buying an additional 2,400 shares during the last quarter. Fulton Bank N.A. grew its stake in shares of Canadian Imperial Bank of Commerce by 9.6% during the second quarter. Fulton Bank N.A. now owns 20,314 shares of the bank’s stock valued at $1,766,000 after buying an additional 1,776 shares during the last quarter. Trust Co grew its stake in shares of Canadian Imperial Bank of Commerce by 21.0% during the first quarter. Trust Co now owns 4,527 shares of the bank’s stock valued at $400,000 after buying an additional 785 shares during the last quarter. Addenda Capital Inc. grew its stake in shares of Canadian Imperial Bank of Commerce by 93.7% during the second quarter. Addenda Capital Inc. now owns 92,100 shares of the bank’s stock valued at $8,161,000 after buying an additional 44,560 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Canadian Imperial Bank of Commerce during the second quarter valued at approximately $361,000. 46.23% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts recently issued reports on CM shares. ValuEngine raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Thursday, August 30th. Zacks Investment Research cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. Finally, TheStreet raised Canadian Imperial Bank of Commerce from a “c” rating to a “b-” rating in a research note on Thursday, August 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and a consensus target price of $123.00.

Shares of NYSE:CM opened at $86.88 on Friday. Canadian Imperial Bank of Commerce has a 52-week low of $84.88 and a 52-week high of $100.01. The company has a market capitalization of $38.44 billion, a P/E ratio of 9.19, a PEG ratio of 1.62 and a beta of 1.18. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.12.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, August 23rd. The bank reported $3.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.22 by $0.86. Canadian Imperial Bank of Commerce had a return on equity of 17.77% and a net margin of 21.27%. The company had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the prior year, the firm earned $2.77 earnings per share. As a group, equities research analysts predict that Canadian Imperial Bank of Commerce will post 9.35 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 29th. Investors of record on Friday, September 28th were paid a $1.0412 dividend. The ex-dividend date was Thursday, September 27th. This represents a $4.16 annualized dividend and a yield of 4.79%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. Canadian Imperial Bank of Commerce’s dividend payout ratio is 46.91%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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

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