3,178 Shares in Canadian Imperial Bank of Commerce $CM Acquired by CAP Partners LLC

CAP Partners LLC acquired a new position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,178 shares of the bank’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HM Payson & Co. acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 1st quarter valued at $29,000. TruNorth Capital Management LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 156.0% during the 1st quarter. TruNorth Capital Management LLC now owns 512 shares of the bank’s stock valued at $29,000 after buying an additional 312 shares during the period. Truvestments Capital LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 1st quarter valued at $32,000. Ameritas Advisory Services LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at $34,000. Finally, Private Trust Co. NA boosted its stake in shares of Canadian Imperial Bank of Commerce by 40.0% during the 1st quarter. Private Trust Co. NA now owns 781 shares of the bank’s stock valued at $44,000 after buying an additional 223 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CM. Weiss Ratings reissued a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, October 8th. Royal Bank Of Canada lifted their target price on shares of Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. Finally, Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and an average price target of $107.50.

Canadian Imperial Bank of Commerce Stock Up 0.5%

Canadian Imperial Bank of Commerce stock opened at $81.54 on Friday. The company has a market capitalization of $75.79 billion, a P/E ratio of 13.77, a P/E/G ratio of 1.72 and a beta of 1.03. The firm’s fifty day simple moving average is $78.79 and its 200-day simple moving average is $71.38. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a 1-year low of $53.62 and a 1-year high of $82.23.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, August 28th. The bank reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.12 billion. Canadian Imperial Bank of Commerce had a net margin of 12.94% and a return on equity of 14.67%. Canadian Imperial Bank of Commerce’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.93 EPS. Sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 28th. Stockholders of record on Monday, September 29th will be issued a dividend of $0.97 per share. The ex-dividend date is Monday, September 29th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.8%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. Canadian Imperial Bank of Commerce’s payout ratio is 47.64%.

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.