JB Capital LLC Acquires New Shares in Canadian Imperial Bank of Commerce $CM

JB Capital LLC bought a new position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the 2nd quarter, HoldingsChannel reports. The fund bought 2,926 shares of the bank’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. US Bancorp DE raised its holdings in shares of Canadian Imperial Bank of Commerce by 6.9% in the 2nd quarter. US Bancorp DE now owns 15,538 shares of the bank’s stock worth $1,101,000 after purchasing an additional 1,008 shares in the last quarter. Shell Asset Management Co. increased its holdings in shares of Canadian Imperial Bank of Commerce by 120.4% in the second quarter. Shell Asset Management Co. now owns 47,362 shares of the bank’s stock valued at $3,355,000 after buying an additional 25,870 shares in the last quarter. DAVENPORT & Co LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 2.2% during the 2nd quarter. DAVENPORT & Co LLC now owns 25,720 shares of the bank’s stock valued at $1,822,000 after acquiring an additional 555 shares during the last quarter. 111 Capital bought a new stake in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth $1,124,000. Finally, Ascent Group LLC purchased a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter worth approximately $252,000. 49.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday. Royal Bank Of Canada raised their price target on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Finally, Wall Street Zen downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Saturday, October 4th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM opened at $79.82 on Friday. The company has a market capitalization of $74.20 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.70 and a beta of 1.03. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.04 and a quick ratio of 1.04. Canadian Imperial Bank of Commerce has a one year low of $53.62 and a one year high of $82.23. The company’s fifty day moving average price is $77.34 and its 200 day moving average price is $69.91.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Thursday, August 28th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.12 billion. During the same period last year, the business posted $1.93 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. As a group, analysts expect 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 28th. Stockholders of record on Monday, September 29th will be given a $0.97 dividend. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. This represents a $3.88 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, September 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 47.64%.

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.