Baader Bank Aktiengesellschaft Purchases Shares of 5,641 Canadian Imperial Bank of Commerce $CM

Baader Bank Aktiengesellschaft bought a new position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,641 shares of the bank’s stock, valued at approximately $449,000.

Several other institutional investors have also recently added to or reduced their stakes in CM. Brown Advisory Inc. boosted its position in Canadian Imperial Bank of Commerce by 2.6% in the second quarter. Brown Advisory Inc. now owns 6,277 shares of the bank’s stock valued at $445,000 after buying an additional 160 shares in the last quarter. Checchi Capital Advisers LLC raised its position in Canadian Imperial Bank of Commerce by 3.7% in the 3rd quarter. Checchi Capital Advisers LLC now owns 4,799 shares of the bank’s stock valued at $383,000 after purchasing an additional 169 shares during the last quarter. Pacifica Partners Inc. boosted its stake in Canadian Imperial Bank of Commerce by 12.1% in the third quarter. Pacifica Partners Inc. now owns 1,756 shares of the bank’s stock worth $141,000 after purchasing an additional 190 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Canadian Imperial Bank of Commerce by 12.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,801 shares of the bank’s stock worth $128,000 after purchasing an additional 193 shares in the last quarter. Finally, Baron Wealth Management LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 7.0% during the third quarter. Baron Wealth Management LLC now owns 3,364 shares of the bank’s stock worth $269,000 after purchasing an additional 221 shares during the last quarter. 49.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on CM. Wall Street Zen raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Zacks Research lowered shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Raymond James Financial initiated coverage on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, November 25th. They set a “market perform” rating on the stock. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, January 21st. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock opened at $95.31 on Friday. The business has a 50-day moving average of $92.75 and a 200-day moving average of $84.31. Canadian Imperial Bank of Commerce has a 1 year low of $53.62 and a 1 year high of $98.50. The firm has a market capitalization of $88.31 billion, a P/E ratio of 15.65, a PEG ratio of 1.30 and a beta of 1.02. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.13.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, December 4th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.08. Canadian Imperial Bank of Commerce had a net margin of 13.57% and a return on equity of 14.93%. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.23 billion. During the same quarter in the previous year, the company earned $1.91 earnings per share. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, equities 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Monday, December 29th were given a $1.07 dividend. The ex-dividend date was Monday, December 29th. This represents a $4.28 annualized dividend and a dividend yield of 4.5%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. Canadian Imperial Bank of Commerce’s payout ratio is presently 50.25%.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.