Childress Capital Advisors LLC Makes New $44,000 Investment in Canadian Imperial Bank of Commerce (NYSE:CM)

Childress Capital Advisors LLC bought a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 493 shares of the bank’s stock, valued at approximately $44,000.

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth about $38,000. Reby Advisors LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at approximately $41,000. Advisory Alpha LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at approximately $38,000. IFP Advisors Inc raised its stake in shares of Canadian Imperial Bank of Commerce by 70.4% in the 4th quarter. IFP Advisors Inc now owns 869 shares of the bank’s stock valued at $74,000 after acquiring an additional 359 shares during the period. Finally, McIlrath & Eck LLC raised its stake in shares of Canadian Imperial Bank of Commerce by 54.3% in the 4th quarter. McIlrath & Eck LLC now owns 904 shares of the bank’s stock valued at $77,000 after acquiring an additional 318 shares during the period. 42.62% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently issued reports on CM shares. Barclays boosted their price target on shares of Canadian Imperial Bank of Commerce from $124.00 to $128.00 and gave the company an “overweight” rating in a research note on Tuesday, February 16th. Scotiabank reissued an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, March 1st. BMO Capital Markets raised shares of Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a research note on Friday, February 26th. Zacks Investment Research upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a report on Friday, February 5th. Finally, Cormark restated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, March 9th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Canadian Imperial Bank of Commerce presently has an average rating of “Buy” and a consensus price target of $108.89.

Shares of Canadian Imperial Bank of Commerce stock opened at $98.57 on Thursday. The company has a fifty day simple moving average of $96.89 and a 200-day simple moving average of $86.52. Canadian Imperial Bank of Commerce has a 12-month low of $54.91 and a 12-month high of $102.20. The stock has a market cap of $44.17 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 1.97 and a beta of 1.12. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Wednesday, February 24th. The bank reported $3.58 EPS for the quarter, beating the consensus estimate of $2.18 by $1.40. Canadian Imperial Bank of Commerce had a net margin of 15.06% and a return on equity of 12.03%. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.77 billion. On average, analysts forecast that Canadian Imperial Bank of Commerce will post 8.11 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 28th. Investors of record on Monday, March 29th will be given a $1.1669 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.10. The ex-dividend date is Friday, March 26th. This represents a $4.67 annualized dividend and a yield of 4.74%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 62.27%.

About Canadian Imperial Bank of Commerce

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 four strategic business units: Canadian Personal and 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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