PDS Planning Inc Boosts Stake in Canadian Imperial Bank of Commerce $CM

PDS Planning Inc boosted its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 4.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,655 shares of the bank’s stock after purchasing an additional 217 shares during the period. PDS Planning Inc’s holdings in Canadian Imperial Bank of Commerce were worth $401,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CM. Wealth Enhancement Advisory Services LLC boosted its holdings in Canadian Imperial Bank of Commerce by 4.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank’s stock valued at $255,000 after purchasing an additional 194 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Canadian Imperial Bank of Commerce by 5,530.0% in the first quarter. GAMMA Investing LLC now owns 20,437 shares of the bank’s stock valued at $1,151,000 after purchasing an additional 20,074 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Canadian Imperial Bank of Commerce by 51.1% in the first quarter. Farther Finance Advisors LLC now owns 902 shares of the bank’s stock valued at $51,000 after purchasing an additional 305 shares during the last quarter. SG Americas Securities LLC purchased a new position in Canadian Imperial Bank of Commerce in the first quarter valued at about $530,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Canadian Imperial Bank of Commerce by 7.5% in the first quarter. Assenagon Asset Management S.A. now owns 71,765 shares of the bank’s stock valued at $4,036,000 after purchasing an additional 4,999 shares during the last quarter. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CM shares. Weiss Ratings reissued a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday. Wall Street Zen downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Saturday, October 4th. Finally, Royal Bank Of Canada increased their target price on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce presently has an average rating of “Moderate Buy” and an average target price of $107.50.

Canadian Imperial Bank of Commerce Trading Down 0.2%

NYSE:CM opened at $79.82 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $77.34 and its two-hundred day moving average is $69.99. Canadian Imperial Bank of Commerce has a 52 week low of $53.62 and a 52 week high of $82.23. The company has a market cap of $74.20 billion, a PE ratio of 13.48, a P/E/G ratio of 1.70 and a beta of 1.03.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, August 28th. The bank reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 14.67% and a net margin of 12.94%.The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $1.93 EPS. On average, analysts predict that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 28th. Investors of record on Monday, September 29th will be issued a $0.97 dividend. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Monday, September 29th. This represents a $3.88 annualized dividend and a dividend yield of 4.9%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 47.64%.

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.