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

CAP Partners LLC bought a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 3,388 shares of the bank’s stock, valued at approximately $208,000.

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

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE CM opened at $63.58 on Monday. The firm has a 50-day simple moving average of $62.05 and a 200-day simple moving average of $54.46. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $60.06 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 1.84 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 52 week low of $37.97 and a 52 week high of $65.09.

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

Canadian Imperial Bank of Commerce Cuts Dividend

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

Wall Street Analysts Forecast Growth

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

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.