Prospera Private Wealth LLC Grows Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Prospera Private Wealth LLC raised its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,486 shares of the bank’s stock after buying an additional 330 shares during the quarter. Prospera Private Wealth LLC’s holdings in Canadian Imperial Bank of Commerce were worth $643,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Toronto Dominion Bank grew its holdings in Canadian Imperial Bank of Commerce by 17.9% during the 2nd quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank’s stock valued at $1,233,272,000 after buying an additional 3,942,894 shares in the last quarter. Cibc World Market Inc. grew its holdings in Canadian Imperial Bank of Commerce by 18.9% during the 2nd quarter. Cibc World Market Inc. now owns 19,748,305 shares of the bank’s stock valued at $938,834,000 after buying an additional 3,143,734 shares in the last quarter. National Bank of Canada FI grew its holdings in Canadian Imperial Bank of Commerce by 26.8% during the 2nd quarter. National Bank of Canada FI now owns 18,340,869 shares of the bank’s stock valued at $867,377,000 after buying an additional 3,875,280 shares in the last quarter. CIBC Asset Management Inc grew its holdings in Canadian Imperial Bank of Commerce by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank’s stock valued at $696,659,000 after buying an additional 375,837 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Canadian Imperial Bank of Commerce by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 7,213,860 shares of the bank’s stock valued at $342,946,000 after buying an additional 228,130 shares in the last quarter. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Up 0.9 %

NYSE:CM opened at $64.88 on Thursday. The stock has a market capitalization of $61.29 billion, a price-to-earnings ratio of 12.75, a price-to-earnings-growth ratio of 1.84 and a beta of 1.06. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a 52 week low of $37.97 and a 52 week high of $65.09. The stock’s fifty day moving average is $62.28 and its two-hundred day moving average is $54.76.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, August 29th. The bank reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.19. The business had revenue of $6.60 billion for the quarter, compared to analysts’ expectations of $6.28 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.50% and a net margin of 10.66%. The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the firm earned $1.14 earnings per share. Research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.34 EPS for the current year.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Friday, September 27th were issued a dividend of $0.652 per share. This represents a $2.61 annualized dividend and a dividend yield of 4.02%. The ex-dividend date was Friday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is 52.26%.

Analyst Ratings Changes

Several research firms have recently issued reports on CM. Bank of America raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research note on Friday, August 30th. BMO Capital Markets lifted their price target on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Desjardins upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 2nd. StockNews.com downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Saturday, October 19th. Finally, Cormark raised Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $81.00.

About Canadian Imperial Bank of Commerce

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.