Yousif Capital Management LLC Boosts Stake in Canadian Imperial Bank of Commerce $CM

Yousif Capital Management LLC raised its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 7.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,561 shares of the bank’s stock after buying an additional 920 shares during the quarter. Yousif Capital Management LLC’s holdings in Canadian Imperial Bank of Commerce were worth $961,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CM. HM Payson & Co. purchased a new position in shares of Canadian Imperial Bank of Commerce in the 1st quarter worth about $29,000. TruNorth Capital Management LLC lifted its position in Canadian Imperial Bank of Commerce by 156.0% in the 1st 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. Truvestments Capital LLC bought a new stake in Canadian Imperial Bank of Commerce in the 1st quarter worth approximately $32,000. Ameritas Advisory Services LLC bought a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter worth approximately $34,000. Finally, Private Trust Co. NA lifted its position in Canadian Imperial Bank of Commerce by 40.0% in the 1st quarter. Private Trust Co. NA now owns 781 shares of the bank’s stock worth $44,000 after buying an additional 223 shares during the last quarter. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CM has been the subject of a number of recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, October 8th. Royal Bank Of Canada boosted their target price on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Finally, Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Saturday. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $107.50.

Canadian Imperial Bank of Commerce Trading Down 0.0%

Shares of CM stock opened at $80.72 on Wednesday. The stock has a market capitalization of $75.04 billion, a PE ratio of 13.64, a P/E/G ratio of 1.72 and a beta of 1.03. Canadian Imperial Bank of Commerce has a 1-year low of $53.62 and a 1-year high of $82.23. The business has a 50-day moving average of $78.48 and a 200 day moving average of $71.13. 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 issued its earnings results on Thursday, August 28th. The bank reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.14. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.12 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.67% and a net margin of 12.94%.Canadian Imperial Bank of Commerce’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.93 EPS. As a group, sell-side analysts anticipate 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, October 28th. Investors of record on Monday, September 29th will be issued a dividend of $0.97 per share. The ex-dividend date is Monday, September 29th. This represents a $3.88 annualized dividend and a yield of 4.8%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 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.