Canadian Imperial Bank of Commerce (NYSE:CM) Stake Boosted by Lindbrook Capital LLC

Lindbrook Capital LLC increased its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 133.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,834 shares of the bank’s stock after purchasing an additional 1,050 shares during the quarter. Lindbrook Capital LLC’s holdings in Canadian Imperial Bank of Commerce were worth $144,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Nexus Investment Management Inc. lifted its stake in Canadian Imperial Bank of Commerce by 0.4% during the second quarter. Nexus Investment Management Inc. now owns 34,588 shares of the bank’s stock worth $2,720,000 after purchasing an additional 128 shares during the last quarter. Raymond James Trust N.A. increased its position in Canadian Imperial Bank of Commerce by 1.1% in the second quarter. Raymond James Trust N.A. now owns 11,987 shares of the bank’s stock worth $942,000 after buying an additional 130 shares during the period. HighPoint Advisor Group LLC increased its position in Canadian Imperial Bank of Commerce by 4.8% in the first quarter. HighPoint Advisor Group LLC now owns 3,048 shares of the bank’s stock worth $253,000 after buying an additional 139 shares during the period. Cornerstone Advisors Inc. increased its position in Canadian Imperial Bank of Commerce by 22.1% in the first quarter. Cornerstone Advisors Inc. now owns 846 shares of the bank’s stock worth $67,000 after buying an additional 153 shares during the period. Finally, Townsend & Associates Inc increased its position in Canadian Imperial Bank of Commerce by 0.7% in the second quarter. Townsend & Associates Inc now owns 24,483 shares of the bank’s stock worth $1,952,000 after buying an additional 161 shares during the period. Hedge funds and other institutional investors own 45.63% of the company’s stock.

Several equities research analysts have weighed in on the company. BMO Capital Markets reaffirmed a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 23rd. Canaccord Genuity lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Zacks Investment Research raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. TD Securities lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, Desjardins lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $122.60.

Shares of CM opened at $77.03 on Friday. The firm has a market capitalization of $34.26 billion, a price-to-earnings ratio of 8.25, a price-to-earnings-growth ratio of 6.95 and a beta of 1.17. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a one year low of $72.96 and a one year high of $96.98. The company’s fifty day simple moving average is $78.74.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Wednesday, May 22nd. The bank reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.22 by $0.75. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.36 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.30% and a net margin of 18.83%. During the same period last year, the company earned $2.95 earnings per share. On average, research analysts expect that Canadian Imperial Bank of Commerce will post 8.99 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Friday, June 28th were issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date was Thursday, June 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 44.33%.

Canadian Imperial Bank of Commerce Company 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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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