JB Capital LLC purchased a new position in Canadian Imperial Bank of Commerce (NYSE:CM – Free Report) (TSE:CM) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,926 shares of the bank’s stock, valued at approximately $207,000.
A number of other large investors have also made changes to their positions in CM. HM Payson & Co. purchased a new stake in shares of Canadian Imperial Bank of Commerce during the first quarter worth about $29,000. TruNorth Capital Management LLC boosted its position in Canadian Imperial Bank of Commerce by 156.0% during the first quarter. TruNorth Capital Management LLC now owns 512 shares of the bank’s stock worth $29,000 after acquiring an additional 312 shares during the last quarter. Truvestments Capital LLC purchased a new stake in Canadian Imperial Bank of Commerce in the 1st quarter worth approximately $32,000. Ameritas Advisory Services LLC acquired a new position in Canadian Imperial Bank of Commerce in the 2nd quarter valued at $34,000. Finally, Private Trust Co. NA lifted its stake in shares of Canadian Imperial Bank of Commerce by 40.0% during the 1st quarter. Private Trust Co. NA now owns 781 shares of the bank’s stock worth $44,000 after purchasing an additional 223 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.
Wall Street Analysts Forecast Growth
CM has been the subject of several recent analyst reports. Royal Bank Of Canada lifted their price target on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the company an “outperform” rating in a report on Friday, August 29th. Weiss Ratings restated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday. Finally, Wall Street Zen lowered shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Saturday, October 4th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $107.50.
Canadian Imperial Bank of Commerce Trading Down 0.2%
NYSE:CM opened at $79.82 on Friday. The stock has a market cap of $74.20 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 1.70 and a beta of 1.03. Canadian Imperial Bank of Commerce has a one year low of $53.62 and a one year high of $82.23. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 1.04. The business’s 50-day simple moving average is $77.34 and its 200 day simple moving average is $69.91.
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 analysts’ consensus estimates 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 firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.12 billion. During the same quarter last year, the firm earned $1.93 EPS. Canadian Imperial Bank of Commerce’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, sell-side analysts predict that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current fiscal year.
Canadian Imperial Bank of Commerce Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 28th. Stockholders of record on Monday, September 29th will be given a $0.97 dividend. This represents a $3.88 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Monday, September 29th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. Canadian Imperial Bank of Commerce’s payout ratio is 47.64%.
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.
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