Canadian Imperial Bank of Commerce (NYSE:CM) Shares Purchased by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC raised its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 130.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,756 shares of the bank’s stock after purchasing an additional 10,063 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Canadian Imperial Bank of Commerce were worth $756,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Aspire Private Capital LLC acquired a new position in Canadian Imperial Bank of Commerce in the 1st quarter valued at $39,919,596,000. NewEdge Advisors LLC lifted its position in Canadian Imperial Bank of Commerce by 277.9% in the first quarter. NewEdge Advisors LLC now owns 1,126 shares of the bank’s stock valued at $48,000 after purchasing an additional 828 shares during the period. CWM LLC boosted its holdings in Canadian Imperial Bank of Commerce by 47.0% in the 1st quarter. CWM LLC now owns 1,160 shares of the bank’s stock valued at $49,000 after purchasing an additional 371 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in Canadian Imperial Bank of Commerce by 31.3% in the 1st quarter. Global Retirement Partners LLC now owns 1,221 shares of the bank’s stock valued at $49,000 after purchasing an additional 291 shares in the last quarter. Finally, Pacifica Partners Inc. increased its position in Canadian Imperial Bank of Commerce by 70.9% during the 2nd quarter. Pacifica Partners Inc. now owns 1,446 shares of the bank’s stock worth $61,000 after purchasing an additional 600 shares during the period. 43.72% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CM has been the topic of a number of analyst reports. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Saturday, September 30th. BMO Capital Markets lowered their price target on shares of Canadian Imperial Bank of Commerce from $69.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, September 1st. Royal Bank of Canada decreased their price objective on shares of Canadian Imperial Bank of Commerce from $72.00 to $67.00 and set a “sector perform” rating on the stock in a report on Friday, September 1st. Finally, Barclays dropped their target price on shares of Canadian Imperial Bank of Commerce from $58.00 to $57.00 and set an “equal weight” rating for the company in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and an average price target of $62.50.

Canadian Imperial Bank of Commerce Stock Performance

NYSE:CM opened at $39.11 on Thursday. Canadian Imperial Bank of Commerce has a twelve month low of $34.35 and a twelve month high of $48.80. The company has a market capitalization of $36.15 billion, a P/E ratio of 10.66, a price-to-earnings-growth ratio of 2.54 and a beta of 1.01. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $38.00 and a two-hundred day moving average price of $40.57.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, August 31st. The bank reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.11). The company had revenue of $4.38 billion for the quarter, compared to analyst estimates of $4.29 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.29% and a net margin of 9.26%. As a group, research analysts expect that Canadian Imperial Bank of Commerce will post 4.95 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Thursday, September 28th were paid a dividend of $0.657 per share. The ex-dividend date of this dividend was Wednesday, September 27th. This represents a $2.63 dividend on an annualized basis and a dividend yield of 6.72%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.64. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 70.30%.

Canadian Imperial Bank of Commerce 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.