First Affirmative Financial Network Makes New $222,000 Investment in Canadian Imperial Bank of Commerce (NYSE:CM)

First Affirmative Financial Network bought a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,198 shares of the bank’s stock, valued at approximately $222,000.

Other large investors have also recently added to or reduced their stakes in the company. Wetherby Asset Management Inc. lifted its position in Canadian Imperial Bank of Commerce by 3.0% during the first quarter. Wetherby Asset Management Inc. now owns 6,652 shares of the bank’s stock worth $809,000 after purchasing an additional 193 shares during the period. VAUGHAN & Co SECURITIES INC. boosted its position in shares of Canadian Imperial Bank of Commerce by 1.8% during the 1st quarter. VAUGHAN & Co SECURITIES INC. now owns 14,024 shares of the bank’s stock worth $595,000 after acquiring an additional 252 shares in the last quarter. ClariVest Asset Management LLC increased its stake in Canadian Imperial Bank of Commerce by 0.3% in the first quarter. ClariVest Asset Management LLC now owns 89,260 shares of the bank’s stock valued at $3,766,000 after acquiring an additional 260 shares during the last quarter. Captrust Financial Advisors raised its position in Canadian Imperial Bank of Commerce by 1.5% during the third quarter. Captrust Financial Advisors now owns 18,231 shares of the bank’s stock valued at $798,000 after purchasing an additional 263 shares in the last quarter. Finally, Janiczek Wealth Management LLC lifted its stake in Canadian Imperial Bank of Commerce by 20.7% during the first quarter. Janiczek Wealth Management LLC now owns 1,568 shares of the bank’s stock worth $68,000 after purchasing an additional 269 shares during the last quarter. Institutional investors own 43.72% of the company’s stock.

Analyst Ratings Changes

CM has been the subject of a number of research analyst reports. StockNews.com assumed coverage on Canadian Imperial Bank of Commerce in a report on Thursday, August 17th. They set a “hold” rating for the company. Royal Bank of Canada lowered their target price on Canadian Imperial Bank of Commerce from $72.00 to $67.00 and set a “sector perform” rating for the company in a research note on Friday, September 1st. Barclays reduced their price target on shares of Canadian Imperial Bank of Commerce from $58.00 to $57.00 and set an “equal weight” rating on the stock in a research note on Friday, September 1st. Finally, BMO Capital Markets lowered their price objective on shares of Canadian Imperial Bank of Commerce from $69.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and a consensus price target of $63.00.

Canadian Imperial Bank of Commerce Stock Up 0.7 %

Shares of NYSE CM opened at $40.99 on Friday. The company has a 50 day simple moving average of $41.45 and a 200 day simple moving average of $42.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a 1 year low of $38.88 and a 1 year high of $48.85. The firm has a market cap of $37.88 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 2.69 and a beta of 1.02.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Thursday, September 28th will be issued a dividend of $0.657 per share. This represents a $2.63 dividend on an annualized basis and a dividend yield of 6.41%. The ex-dividend date is Wednesday, September 27th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.64. Canadian Imperial Bank of Commerce’s payout ratio is 70.03%.

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.