Signaturefd LLC Buys 1,517 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Signaturefd LLC boosted its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 7.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,680 shares of the bank’s stock after acquiring an additional 1,517 shares during the quarter. Signaturefd LLC’s holdings in Canadian Imperial Bank of Commerce were worth $1,330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CM. Ridgewood Investments LLC purchased a new position in shares of Canadian Imperial Bank of Commerce in the second quarter valued at about $29,000. Blue Trust Inc. increased its holdings in Canadian Imperial Bank of Commerce by 571.6% during the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock valued at $45,000 after purchasing an additional 623 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in Canadian Imperial Bank of Commerce during the 2nd quarter valued at approximately $51,000. Massmutual Trust Co. FSB ADV raised its position in Canadian Imperial Bank of Commerce by 23.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock valued at $56,000 after purchasing an additional 171 shares during the last quarter. Finally, City State Bank purchased a new stake in Canadian Imperial Bank of Commerce in the 3rd quarter worth approximately $61,000. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM opened at $62.76 on Thursday. The company has a market capitalization of $59.19 billion, a PE ratio of 12.91, a PEG ratio of 1.82 and a beta of 1.07. The business has a fifty day moving average price of $59.36 and a 200-day moving average price of $52.55. Canadian Imperial Bank of Commerce has a 1-year low of $34.35 and a 1-year high of $63.02. 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 issued its earnings results on Thursday, August 29th. The bank reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.19. Canadian Imperial Bank of Commerce had a net margin of 10.66% and a return on equity of 13.50%. The business had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same period in the previous year, the company earned $1.14 earnings per share. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, equities 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be given a $0.652 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.61 annualized dividend and a yield of 4.16%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 54.73%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CM. UBS Group initiated coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, July 2nd. They set a “neutral” rating for the company. BMO Capital Markets raised their target price on shares of Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Desjardins upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 2nd. StockNews.com lowered shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. Finally, Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a report on Friday, August 30th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and an average price target 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.