Aviso Financial Inc. Raises Stock Holdings in Canadian Imperial Bank of Commerce $CM

Aviso Financial Inc. increased its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 696,803 shares of the bank’s stock after buying an additional 12,280 shares during the period. Canadian Imperial Bank of Commerce accounts for about 2.2% of Aviso Financial Inc.’s portfolio, making the stock its 16th largest position. Aviso Financial Inc. owned 0.07% of Canadian Imperial Bank of Commerce worth $49,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its stake in Canadian Imperial Bank of Commerce by 405.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,187,068 shares of the bank’s stock worth $292,032,000 after buying an additional 4,160,938 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Canadian Imperial Bank of Commerce by 31.6% in the 1st quarter. JPMorgan Chase & Co. now owns 10,581,914 shares of the bank’s stock worth $595,762,000 after buying an additional 2,538,808 shares during the period. Nuveen LLC purchased a new stake in Canadian Imperial Bank of Commerce in the first quarter valued at $124,797,000. Vanguard Group Inc. boosted its position in Canadian Imperial Bank of Commerce by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 41,410,285 shares of the bank’s stock worth $2,939,385,000 after purchasing an additional 1,382,123 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Canadian Imperial Bank of Commerce by 19.7% in the second quarter. Geode Capital Management LLC now owns 7,547,548 shares of the bank’s stock valued at $542,697,000 after buying an additional 1,244,271 shares in the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Stock Down 0.0%

CM opened at $84.06 on Tuesday. The business has a 50 day moving average price of $82.32 and a two-hundred day moving average price of $75.40. Canadian Imperial Bank of Commerce has a 52 week low of $53.62 and a 52 week high of $87.37. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.14. The company has a market cap of $78.07 billion, a PE ratio of 14.20, a P/E/G ratio of 1.76 and a beta of 1.03.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, August 28th. The bank reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. Canadian Imperial Bank of Commerce had a net margin of 12.94% and a return on equity of 14.67%. The company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter in the prior year, the firm earned $1.93 EPS. Canadian Imperial Bank of Commerce’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, 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 company also recently declared a quarterly dividend, which was paid on Tuesday, October 28th. Stockholders of record on Monday, September 29th were paid a dividend of $0.97 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Monday, September 29th. This represents a $3.88 annualized dividend and a dividend yield of 4.6%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 47.64%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of 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. Wall Street Zen raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Monday, November 3rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.