Canadian Imperial Bank of Commerce $CM Holdings Raised by Leuthold Group LLC

Leuthold Group LLC increased its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 9.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 90,837 shares of the bank’s stock after buying an additional 7,495 shares during the period. Canadian Imperial Bank of Commerce makes up 0.9% of Leuthold Group LLC’s holdings, making the stock its 28th biggest holding. Leuthold Group LLC’s holdings in Canadian Imperial Bank of Commerce were worth $10,008,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. West Family Investments Inc. boosted its position in Canadian Imperial Bank of Commerce by 4.1% during the second quarter. West Family Investments Inc. now owns 2,724 shares of the bank’s stock valued at $313,000 after acquiring an additional 107 shares during the last quarter. Integrated Wealth Concepts LLC grew its holdings in Canadian Imperial Bank of Commerce by 0.8% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 14,479 shares of the bank’s stock worth $1,665,000 after acquiring an additional 110 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Canadian Imperial Bank of Commerce by 1.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 10,192 shares of the bank’s stock worth $1,172,000 after acquiring an additional 113 shares in the last quarter. Carter Financial Group INC. raised its position in shares of Canadian Imperial Bank of Commerce by 5.8% in the 3rd quarter. Carter Financial Group INC. now owns 2,176 shares of the bank’s stock worth $241,000 after acquiring an additional 120 shares in the last quarter. Finally, Greenspring Advisors LLC raised its position in shares of Canadian Imperial Bank of Commerce by 5.6% in the 2nd quarter. Greenspring Advisors LLC now owns 2,445 shares of the bank’s stock worth $281,000 after acquiring an additional 129 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CM. Weiss Ratings raised Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (a)” rating in a research note on Wednesday, November 4th. Desjardins cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Keefe, Bruyette & Woods started coverage on Canadian Imperial Bank of Commerce in a report on Friday, August 21st. They issued a “market perform” rating for the company. Royal Bank Of Canada reissued an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 28th. Finally, TD Securities reissued a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $160.00.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at $116.71 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05. The business has a 50-day simple moving average of $113.78 and a two-hundred day simple moving average of $109.35. The company has a market capitalization of $105.68 billion, a P/E ratio of 15.58, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. Canadian Imperial Bank of Commerce has a 52-week low of $82.71 and a 52-week high of $124.86.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, August 27th. The bank reported $1.96 EPS for the quarter, topping the consensus estimate of $1.80 by $0.16. Canadian Imperial Bank of Commerce had a return on equity of 17.02% and a net margin of 16.09%. The firm had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.74 billion. Research analysts expect that Canadian Imperial Bank of Commerce will post 7.60 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 28th. Investors of record on Monday, September 28th were issued a dividend of C$1.07 per share. The ex-dividend date was Monday, September 28th. This represents a $4.28 annualized dividend and a yield of 3.7%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 41.26%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a diversified financial institution headquartered in Toronto, Canada. It traces its roots to the Canadian Bank of Commerce, founded in 1867, and was formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada.

CIBC provides personal and business banking, commercial banking, wealth management, and capital markets services. Its offerings include deposit accounts, mortgages, lending, payment services, investment and financial advice, and financing and advisory services for businesses and institutional clients.

The bank serves individuals, businesses, and institutions across Canada and the United States, as well as clients in select international markets.