5,260 Shares in Canadian Imperial Bank of Commerce (NYSE:CM) Purchased by Perfromance Wealth Partners LLC

Perfromance Wealth Partners LLC purchased a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 5,260 shares of the bank’s stock, valued at approximately $323,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ridgewood Investments LLC purchased a new position in Canadian Imperial Bank of Commerce in the second quarter worth approximately $29,000. Massmutual Trust Co. FSB ADV raised its holdings in Canadian Imperial Bank of Commerce by 23.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock valued at $56,000 after buying an additional 171 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in Canadian Imperial Bank of Commerce in the second quarter valued at about $51,000. Ninepoint Partners LP purchased a new position in Canadian Imperial Bank of Commerce during the second quarter worth about $97,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Canadian Imperial Bank of Commerce during the first quarter valued at about $175,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Up 2.3 %

Shares of CM stock traded up $1.38 during trading hours on Friday, reaching $60.96. 2,508,177 shares of the stock were exchanged, compared to its average volume of 1,457,938. The business’s fifty day moving average is $57.47 and its two-hundred day moving average is $51.86. The firm has a market capitalization of $57.58 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.82 and a beta of 1.07. Canadian Imperial Bank of Commerce has a 12-month low of $34.35 and a 12-month high of $62.67. 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 (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Thursday, August 29th. The bank reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Canadian Imperial Bank of Commerce had a return on equity of 13.50% and a net margin of 10.66%. The business had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the prior year, the business posted $1.14 EPS. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, research analysts expect that Canadian Imperial Bank of Commerce will post 5.36 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be paid a $0.652 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.61 annualized dividend and a yield of 4.28%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 52.46%.

Analysts Set New Price Targets

CM has been the subject of a number of research analyst reports. Bank of America raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research report on Friday, August 30th. StockNews.com cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Tuesday. UBS Group started coverage on Canadian Imperial Bank of Commerce in a research note on Tuesday, July 2nd. They set a “neutral” rating on the stock. BMO Capital Markets lifted their target price on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Finally, Cormark raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 30th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and an average target price of $81.00.

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.