CAP Partners LLC Makes New Investment in Canadian Imperial Bank of Commerce $CM

CAP Partners LLC bought a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 3,178 shares of the bank’s stock, valued at approximately $225,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ameritas Advisory Services LLC acquired a new position in Canadian Imperial Bank of Commerce during the 2nd quarter worth $34,000. TruNorth Capital Management LLC lifted its position in Canadian Imperial Bank of Commerce by 156.0% during the 1st 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. HM Payson & Co. acquired a new position in Canadian Imperial Bank of Commerce during the 1st quarter worth $29,000. Truvestments Capital LLC acquired a new position in Canadian Imperial Bank of Commerce during the 1st quarter worth $32,000. Finally, Private Trust Co. NA lifted its position in 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 acquiring an additional 223 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

NYSE:CM opened at $81.54 on Friday. The firm’s 50-day moving average is $78.79 and its 200-day moving average is $71.38. Canadian Imperial Bank of Commerce has a 52-week low of $53.62 and a 52-week 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 company has a market cap of $75.79 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 1.72 and a beta of 1.03.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, August 28th. The bank reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. Canadian Imperial Bank of Commerce had a net margin of 12.94% and a return on equity of 14.67%. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter in the previous year, the firm posted $1.93 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm 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 dividend of $0.97 per share. 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. This represents a $3.88 annualized dividend and a dividend yield of 4.8%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 47.64%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CM. Weiss Ratings reissued a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Royal Bank Of Canada boosted their price objective 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. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $107.50.

Canadian Imperial Bank of Commerce 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.