State of Wyoming Buys New Shares in Canadian Imperial Bank of Commerce $CM

State of Wyoming purchased a new stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,070 shares of the bank’s stock, valued at approximately $1,159,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce by 1.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 9,716 shares of the bank’s stock worth $880,000 after purchasing an additional 114 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Canadian Imperial Bank of Commerce by 3.1% during the 4th quarter. Sivia Capital Partners LLC now owns 3,832 shares of the bank’s stock valued at $347,000 after buying an additional 116 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Canadian Imperial Bank of Commerce by 3.5% during the 3rd quarter. Parallel Advisors LLC now owns 3,404 shares of the bank’s stock valued at $272,000 after buying an additional 116 shares in the last quarter. McIlrath & Eck LLC lifted its position in Canadian Imperial Bank of Commerce by 7.1% in the 4th quarter. McIlrath & Eck LLC now owns 1,936 shares of the bank’s stock worth $175,000 after buying an additional 128 shares during the last quarter. Finally, Fifth Third Bancorp lifted its position in Canadian Imperial Bank of Commerce by 12.7% in the 4th quarter. Fifth Third Bancorp now owns 1,337 shares of the bank’s stock worth $121,000 after buying an additional 151 shares during the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Up 1.1%

NYSE CM opened at $123.73 on Friday. The firm has a market cap of $112.94 billion, a PE ratio of 17.00, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Canadian Imperial Bank of Commerce has a 1-year low of $72.57 and a 1-year high of $123.76. The stock has a 50-day moving average of $116.34 and a 200-day moving average of $107.36. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings results on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.08. The business had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.86 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.Canadian Imperial Bank of Commerce’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period last year, the company earned $2.05 EPS. As a group, sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 7.33 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 28th. Stockholders of record on Monday, June 29th were paid a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, June 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 42.58%.

Analyst Ratings Changes

A number of brokerages have commented on CM. Royal Bank Of Canada increased their price target on shares of Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Zacks Research lowered shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. TD Securities reaffirmed a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday. Raymond James Financial reaffirmed a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Finally, Desjardins lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Tuesday, August 4th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $167.00.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.