Creative Planning buys 2,529 shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Creative Planning increased its stake in Canadian Imperial Bank of Commerce (NYSE:CM – Get Rating) (TSE:CM) shares by 24.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. and Values. The firm held 12,680 shares in the bank after acquiring an additional 2,529 shares during the quarter. Creative Planning’s holdings in Canadian Imperial Bank of Commerce were worth $555,000 at the end of the most recent reporting period.

→ Cash holders are STILL not taking steps to prepare (From Investor Place Media)

Other institutional investors and hedge funds have also recently added or reduced their holdings in the company. Pacifica Partners Inc. improved its position in Canadian Imperial Bank of Commerce shares by 100.0% in the second quarter. Pacifica Partners Inc. now owns 510 shares of the bank valued at $25,000 after acquiring an additional 255 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in Canadian Imperial Bank of Commerce by 162.9% in the second quarter. Steward Partners Investment Advisory LLC now owns 510 shares of the bank worth $25,000 after purchasing an additional 316 shares during the period. Tower View Investment Management & Research LLC increased its holdings in Canadian Imperial Bank of Commerce by 100.0% during the second quarter. Tower View Investment Management & Research LLC now owns 600 shares of the bank valued at $29,000 after purchasing an additional 300 shares in the last quarter. Spire Wealth Management increased its position in Canadian Imperial Bank of Commerce shares by 100.0% during the second quarter. Spire Wealth Management now owns 650 shares of the bank valued at $32,000 after purchasing an additional 325 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in Canadian Imperial Bank of Commerce shares by 100.0% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 800 shares of the bank worth $39,000 after purchasing an additional 400 shares last quarter. Institutional investors own 44.40% of the company’s shares.

Analysts set new price targets

Several analysts have issued reports on CM’s shares. CIBC upgraded shares of Canadian Imperial Bank of Commerce from a “sector performer” rating to an “outperform” rating and lowered its price target for the company from C$67.00 to C$61.00 in a report from the Tuesday December 20. TD Securities downgraded Canadian Imperial Bank of Commerce from a ‘buy’ rating to a ‘hold’ rating and lowered its price target for the firm from C$74.00 to C$65.00 in a research note on Tuesday. November 15. Bank of America downgraded Canadian Imperial Bank of Commerce from a “neutral” rating to an “underperforming” rating in a research note on Monday, December 12. National Bank Financial downgraded Canadian Imperial Bank of Commerce from an “outperform” rating to an “industry performance” rating in a research report on Thursday, December 1. Finally, StockNews.com upgraded Canadian Imperial Bank of Commerce shares from a “sell” rating to a “hold” rating in a research report on Thursday, December 22. One research analyst gave the stock a sell rating, seven issued a hold rating and one issued a buy rating for the stock. Based on MarketBeat data, the company has a “Hold” consensus rating and an average price target of $79.30.

Canadian Imperial Bank of Commerce trades rose 0.8%

CM opened at $45.97 on Thursday. The firm has a debt to equity ratio of 0.13, a quick ratio of 1.04, and a current ratio of 1.04. The stock’s 50-day moving average price is $43.04 and its 200-day moving average price is $45.79. Canadian Imperial Bank of Commerce has a one-year minimum of $39.40 and a one-year maximum of $65.89. The stock has a market capitalization of $41.66 billion, a price-earnings ratio of 8.77, a P/E/E ratio of 2.88, and a beta of 1.01.

Canadian Imperial Bank of Commerce (NYSE:CM – Get Rated) (TSE:CM) last announced its quarterly earnings data on Thursday, December 1. The bank reported $1.08 EPS for the quarter, missing the consensus estimate of $1.29 per ($0.21). Canadian Imperial Bank of Commerce had a net margin of 19.88% and a return on equity of 14.81%. The business had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.36 billion. On average, stock analysts forecast Canadian Imperial Bank of Commerce to post 5.07 EPS for the current year.

Canadian Imperial Bank of Commerce cuts dividends

The company also recently revealed a quarterly dividend, which was paid on Friday, January 27. Shareholders of record on Wednesday, December 28 received a dividend of $0.627. The ex-dividend date was Tuesday, December 27. This represents an annualized dividend of $2.51 and a yield of 5.46%. The Dividend Payout Ratio (DPR) of the Canadian Imperial Bank of Commerce is 48.28%.

About the Canadian Imperial Bank of Commerce

(Get rating)

Canadian Imperial Bank of Commerce is a financial institution engaged in the provision of banking and wealth management services. It operates through the following segments: Canadian Personal and Business Banking, Canadian Commercial Banking and Wealth Management, US Commercial Banking and Wealth Management, Corporate and Capital Markets, and Other.

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