CAP Partners LLC Takes $208,000 Position in Canadian Imperial Bank of Commerce (NYSE:CM)

CAP Partners LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 3,388 shares of the bank’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ridgewood Investments LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce during the second quarter valued at about $29,000. Blue Trust Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 571.6% during the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock worth $45,000 after acquiring an additional 623 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth approximately $51,000. Massmutual Trust Co. FSB ADV lifted its position in Canadian Imperial Bank of Commerce by 23.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock valued at $56,000 after acquiring an additional 171 shares during the last quarter. Finally, City State Bank acquired a new stake in Canadian Imperial Bank of Commerce in the third quarter valued at approximately $61,000. 49.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CM. Bank of America raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research report on Friday, August 30th. StockNews.com lowered Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Desjardins upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 2nd. BMO Capital Markets boosted their price target on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Finally, Cormark upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 30th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $81.00.

Canadian Imperial Bank of Commerce Stock Down 0.5 %

Canadian Imperial Bank of Commerce stock opened at $63.58 on Monday. The business’s 50-day simple moving average is $62.05 and its two-hundred day simple moving average is $54.46. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $60.06 billion, a PE ratio of 12.49, a PEG ratio of 1.84 and a beta of 1.06. Canadian Imperial Bank of Commerce has a fifty-two week low of $37.97 and a fifty-two week high of $65.09.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, August 29th. The bank reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Canadian Imperial Bank of Commerce had a return on equity of 13.50% and a net margin of 10.66%. The firm had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same quarter in the prior year, the firm earned $1.14 earnings per share. Canadian Imperial Bank of Commerce’s revenue for the quarter was up 12.9% on a year-over-year basis. Equities analysts anticipate that Canadian Imperial Bank of Commerce will post 5.34 EPS for the current year.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Stockholders of record on Friday, September 27th were paid a $0.652 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.61 dividend on an annualized basis and a dividend yield of 4.10%. Canadian Imperial Bank of Commerce’s payout ratio is currently 52.46%.

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.