Sciencast Management LP Invests $546,000 in Canadian Imperial Bank of Commerce $CM

Sciencast Management LP acquired a new position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 9,695 shares of the bank’s stock, valued at approximately $546,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. TruNorth Capital Management LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce by 156.0% in the first quarter. TruNorth Capital Management LLC now owns 512 shares of the bank’s stock worth $29,000 after buying an additional 312 shares during the last quarter. HM Payson & Co. purchased a new position in Canadian Imperial Bank of Commerce during the first quarter valued at approximately $29,000. Truvestments Capital LLC purchased a new position in Canadian Imperial Bank of Commerce during the first quarter valued at approximately $32,000. Private Trust Co. NA lifted its holdings in Canadian Imperial Bank of Commerce by 40.0% during the first quarter. Private Trust Co. NA now owns 781 shares of the bank’s stock valued at $44,000 after purchasing an additional 223 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 51.1% in the first quarter. Farther Finance Advisors LLC now owns 902 shares of the bank’s stock worth $51,000 after buying an additional 305 shares in the last quarter. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Down 0.2%

CM stock opened at $78.14 on Tuesday. The company has a market capitalization of $72.63 billion, a PE ratio of 13.20, a P/E/G ratio of 1.69 and a beta of 1.03. Canadian Imperial Bank of Commerce has a 12 month low of $53.62 and a 12 month high of $79.67. The firm’s 50-day moving average is $73.67 and its 200 day moving average is $66.28. 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 (NYSE:CM) (TSE:CM) last posted its quarterly earnings results on Thursday, August 28th. The bank reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.12 billion. Canadian Imperial Bank of Commerce had a net margin of 12.94% and a return on equity of 14.67%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.93 EPS. On average, research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 28th. Investors of record on Monday, September 29th will be paid a $0.97 dividend. The ex-dividend date of this dividend is Monday, September 29th. This represents a $3.88 annualized dividend and a yield of 5.0%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. Canadian Imperial Bank of Commerce’s payout ratio is 47.64%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. National Bank Financial lowered shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research report on Friday, May 30th. BMO Capital Markets increased their price objective on shares of Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the company an “outperform” rating in a research report on Friday, May 30th. Scotiabank began coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They set a “sector outperform” rating for the company. Royal Bank Of Canada increased their price objective on shares of 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. Finally, Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.50.

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.