Performance Wealth Partners LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM – Free Report) (TSE:CM) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,946 shares of the bank’s stock, valued at approximately $1,489,000.
A number of other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC increased its position in shares of Canadian Imperial Bank of Commerce by 119.7% during the third quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock valued at $32,000 after buying an additional 219 shares during the period. EFG International AG bought a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $35,000. Bell Investment Advisors Inc purchased a new stake in Canadian Imperial Bank of Commerce in the second quarter worth $36,000. Global Assets Advisory LLC purchased a new stake in Canadian Imperial Bank of Commerce in the first quarter worth $54,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in Canadian Imperial Bank of Commerce by 87.0% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock worth $69,000 after purchasing an additional 400 shares in the last quarter. 49.88% of the stock is currently owned by hedge funds and other institutional investors.
Canadian Imperial Bank of Commerce Stock Performance
Shares of CM stock opened at $123.49 on Tuesday. Canadian Imperial Bank of Commerce has a one year low of $72.57 and a one year high of $124.86. The company’s 50-day moving average is $116.61 and its 200 day moving average is $107.68. The company has a market capitalization of $112.73 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05.
Canadian Imperial Bank of Commerce Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 28th. Investors of record on Monday, June 29th were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Monday, June 29th. This represents a $4.28 annualized dividend and a dividend yield of 3.5%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 42.58%.
Analysts Set New Price Targets
CM has been the topic of several research reports. Desjardins lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Barclays reiterated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Monday, June 1st. Weiss Ratings raised Canadian Imperial Bank of Commerce from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, July 31st. Raymond James Financial restated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Finally, Zacks Research lowered Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of “Moderate Buy” and an average target price of $167.00.
Read Our Latest Stock Report on Canadian Imperial Bank of Commerce
About Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.
CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.
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