Wealth Enhancement Advisory Services LLC Purchases 194 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Wealth Enhancement Advisory Services LLC increased its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 4.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,161 shares of the bank’s stock after buying an additional 194 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Canadian Imperial Bank of Commerce were worth $255,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Operose Advisors LLC bought a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at about $26,000. SBI Securities Co. Ltd. bought a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at about $30,000. Sandy Spring Bank bought a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at about $32,000. IFP Advisors Inc boosted its holdings in shares of Canadian Imperial Bank of Commerce by 318.1% during the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock valued at $34,000 after purchasing an additional 404 shares during the last quarter. Finally, Lee Danner & Bass Inc. bought a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at about $44,000. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM stock opened at $68.11 on Monday. The firm has a market cap of $64.03 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.62 and a beta of 1.05. Canadian Imperial Bank of Commerce has a 52-week low of $47.07 and a 52-week high of $69.88. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $63.86 and its 200 day moving average is $62.22.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, May 29th. The bank reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.10. Canadian Imperial Bank of Commerce had a net margin of 11.10% and a return on equity of 14.01%. The company had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the firm earned $1.75 earnings per share. Canadian Imperial Bank of Commerce’s revenue was up 13.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be paid a dividend of $0.7024 per share. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.67. This represents a $2.81 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Friday, June 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 49.56%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CM. Jefferies Financial Group lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Monday, April 21st. Royal Bank of Canada raised their target price on shares of Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. 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. Scotiabank assumed coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They set a “sector outperform” rating on the stock. Finally, BMO Capital Markets lifted 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 report on Friday, May 30th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $109.00.

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.