Naples Global Advisors LLC Has $5.64 Million Stake in Canadian Imperial Bank of Commerce $CM

Naples Global Advisors LLC decreased its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,785 shares of the bank’s stock after selling 962 shares during the quarter. Naples Global Advisors LLC’s holdings in Canadian Imperial Bank of Commerce were worth $5,637,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CM. Wealth Enhancement Advisory Services LLC raised its stake in shares of Canadian Imperial Bank of Commerce by 4.9% in the 4th 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 period. GAMMA Investing LLC raised its stake in shares of Canadian Imperial Bank of Commerce by 5,530.0% in the 1st 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 period. NBC Securities Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 121,800.0% in the 1st quarter. NBC Securities Inc. now owns 1,219 shares of the bank’s stock valued at $68,000 after purchasing an additional 1,218 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in shares of Canadian Imperial Bank of Commerce by 56.1% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 21,610 shares of the bank’s stock valued at $1,217,000 after acquiring an additional 7,768 shares during the last quarter. Finally, NewSquare Capital LLC increased its position in shares of Canadian Imperial Bank of Commerce by 2.8% in the first quarter. NewSquare Capital LLC now owns 95,152 shares of the bank’s stock valued at $5,357,000 after acquiring an additional 2,631 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on CM shares. Royal Bank Of Canada lifted their target price on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Wall Street Zen raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Canadian Imperial Bank of Commerce currently has an average rating of “Moderate Buy” and a consensus price target of $107.50.

Canadian Imperial Bank of Commerce Trading Up 0.7%

Shares of NYSE:CM opened at $80.45 on Thursday. Canadian Imperial Bank of Commerce has a 12-month low of $53.62 and a 12-month high of $82.09. The stock has a market cap of $74.78 billion, a PE ratio of 13.59, a P/E/G ratio of 1.70 and a beta of 1.03. The business has a 50 day moving average of $76.21 and a 200-day moving average of $68.76. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.14.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, August 28th. The bank reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. Canadian Imperial Bank of Commerce had a return on equity of 14.67% and a net margin of 12.94%.The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.12 billion. During the same quarter in the previous year, the company posted $1.93 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 28th. Stockholders of record on Monday, September 29th will be issued a dividend of $0.97 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Monday, September 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 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.