Atlanta Consulting Group Advisors LLC Makes New Investment in Canadian Imperial Bank of Commerce (NYSE:CM)

Atlanta Consulting Group Advisors LLC purchased a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,939 shares of the bank’s stock, valued at approximately $671,000.

A number of other institutional investors have also recently bought and sold shares of CM. BNP Paribas Financial Markets acquired a new stake in Canadian Imperial Bank of Commerce during the first quarter worth $175,000. US Bancorp DE boosted its stake in Canadian Imperial Bank of Commerce by 6.2% during the first quarter. US Bancorp DE now owns 13,994 shares of the bank’s stock worth $710,000 after buying an additional 821 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 5.3% during the first quarter. Bleakley Financial Group LLC now owns 6,208 shares of the bank’s stock valued at $315,000 after acquiring an additional 314 shares during the period. M&G Plc bought a new position in shares of Canadian Imperial Bank of Commerce during the first quarter valued at $8,221,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Canadian Imperial Bank of Commerce by 1,091.2% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 267,124 shares of the bank’s stock valued at $13,477,000 after acquiring an additional 244,700 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock opened at $63.58 on Friday. The stock has a 50-day simple moving average of $62.05 and a 200 day simple moving average of $54.41. 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 12-month low of $37.97 and a 12-month high of $65.09. The stock has a market capitalization of $60.06 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 1.84 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, August 29th. The bank reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. The business had revenue of $6.60 billion during 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 firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.14 earnings per share. On average, research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.34 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Friday, September 27th were given a $0.652 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.61 dividend on an annualized basis and a yield of 4.10%. Canadian Imperial Bank of Commerce’s payout ratio is 52.46%.

Analysts Set New Price Targets

A number of research analysts have issued reports on CM shares. Cormark raised Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 30th. StockNews.com cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. BMO Capital Markets lifted their price objective 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 raised Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 2nd. Finally, Bank of America raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a report on Friday, August 30th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $81.00.

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.