Performance Wealth Partners LLC Buys Shares of 12,946 Canadian Imperial Bank of Commerce $CM

Performance Wealth Partners LLC purchased a new position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 2nd quarter, Holdings Channel reports. The fund purchased 12,946 shares of the bank’s stock, valued at approximately $1,489,000.

Other hedge funds have also recently modified their holdings of the company. Bell Investment Advisors Inc purchased a new stake in shares of Canadian Imperial Bank of Commerce in the 2nd quarter worth $36,000. EFG International AG bought a new stake in Canadian Imperial Bank of Commerce during the fourth quarter valued at about $35,000. Larson Financial Group LLC increased its position 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 worth $32,000 after buying an additional 219 shares in the last quarter. Global Assets Advisory LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the first quarter worth about $54,000. Finally, Parkside Financial Bank & Trust lifted its position in shares of Canadian Imperial Bank of Commerce by 2,758.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 829 shares of the bank’s stock valued at $75,000 after buying an additional 800 shares in the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at $123.49 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05. The company’s fifty day moving average price is $116.61 and its 200-day moving average price is $107.68. Canadian Imperial Bank of Commerce has a one year low of $72.57 and a one year high of $124.86. The company has a market capitalization of $112.73 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.08. The company had revenue of $5.89 billion for the quarter, compared to the consensus estimate of $5.86 billion. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. Canadian Imperial Bank of Commerce’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.05 EPS. On average, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 7.33 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 28th. Stockholders 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 dividend yield of 3.5%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 42.58%.

Analyst Upgrades and Downgrades

CM has been the topic of a number of recent analyst reports. Raymond James Financial restated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Jefferies Financial Group reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 28th. Zacks Research cut shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Weiss Ratings upgraded shares of Canadian Imperial Bank of Commerce from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, July 31st. Finally, Royal Bank Of Canada lifted their target price on shares of Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $167.00.

Canadian Imperial Bank of Commerce Company 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.