Canadian Imperial Bank of Commerce (NYSE:CM) Shares Acquired by Checchi Capital Advisers LLC

Checchi Capital Advisers LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) by 117.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,632 shares of the bank’s stock after buying an additional 2,505 shares during the period. Checchi Capital Advisers LLC’s holdings in Canadian Imperial Bank of Commerce were worth $234,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Pacifica Partners Inc. raised its holdings in Canadian Imperial Bank of Commerce by 100.0% during the second quarter. Pacifica Partners Inc. now owns 510 shares of the bank’s stock worth $25,000 after purchasing an additional 255 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Canadian Imperial Bank of Commerce by 162.9% during the second quarter. Steward Partners Investment Advisory LLC now owns 510 shares of the bank’s stock worth $25,000 after purchasing an additional 316 shares in the last quarter. Tower View Investment Management & Research LLC raised 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’s stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Spire Wealth Management raised its holdings in Canadian Imperial Bank of Commerce by 100.0% during the second quarter. Spire Wealth Management now owns 650 shares of the bank’s stock worth $32,000 after purchasing an additional 325 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its holdings in Canadian Imperial Bank of Commerce by 94.0% during the second quarter. AdvisorNet Financial Inc now owns 776 shares of the bank’s stock worth $38,000 after purchasing an additional 376 shares in the last quarter. Institutional investors and hedge funds own 44.32% of the company’s stock.

Analysts Set New Price Targets

CM has been the subject of a number of research analyst reports. TD Securities cut shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and dropped their target price for the company from C$74.00 to C$65.00 in a report on Tuesday, November 15th. CIBC increased their target price on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$79.00 and gave the company an “outperform” rating in a report on Friday, August 26th. National Bank Financial dropped their target price on shares of Canadian Imperial Bank of Commerce from C$84.00 to C$83.00 in a report on Tuesday, August 16th. StockNews.com initiated coverage on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Desjardins dropped their target price on shares of Canadian Imperial Bank of Commerce from C$74.00 to C$73.00 and set a “hold” rating for the company in a report on Monday, August 29th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and a consensus price target of $81.58.

Canadian Imperial Bank of Commerce Trading Up 0.9 %

Shares of CM opened at $48.48 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a 50 day simple moving average of $45.23 and a 200-day simple moving average of $49.16. Canadian Imperial Bank of Commerce has a 1-year low of $39.72 and a 1-year high of $66.24. The stock has a market cap of $43.92 billion, a price-to-earnings ratio of 8.85, a price-to-earnings-growth ratio of 2.88 and a beta of 0.97.

Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) last issued its quarterly earnings data on Thursday, August 25th. The bank reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.05. Canadian Imperial Bank of Commerce had a net margin of 24.18% and a return on equity of 15.82%. The business had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.27 billion. Equities analysts forecast that Canadian Imperial Bank of Commerce will post 5.58 EPS for the current fiscal year.

About Canadian Imperial Bank of Commerce

(Get Rating)

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 four strategic business units: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

See Also

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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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