6,208 Shares in Canadian Imperial Bank of Commerce (NYSE:CM) Bought by Simplicity Wealth LLC

Simplicity Wealth LLC purchased a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,208 shares of the bank’s stock, valued at approximately $315,000.

Other large investors have also added to or reduced their stakes in the company. Bruce G. Allen Investments LLC purchased a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at about $33,000. Glassman Wealth Services boosted its position in Canadian Imperial Bank of Commerce by 57.5% in the 4th quarter. Glassman Wealth Services now owns 693 shares of the bank’s stock worth $33,000 after purchasing an additional 253 shares in the last quarter. Janiczek Wealth Management LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 34.9% during the 4th quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank’s stock worth $41,000 after purchasing an additional 222 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 574.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,066 shares of the bank’s stock valued at $51,000 after purchasing an additional 908 shares during the period. Finally, Principal Securities Inc. purchased a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth $64,000. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CM. Barclays started coverage on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, March 20th. They issued an “underweight” rating for the company. Scotiabank raised Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a report on Tuesday, February 20th. Finally, Jefferies Financial Group began coverage on Canadian Imperial Bank of Commerce in a research note on Thursday, February 22nd. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $63.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM traded down $0.22 during trading hours on Thursday, hitting $48.17. 1,216,097 shares of the stock were exchanged, compared to its average volume of 1,622,025. The stock’s 50-day moving average price is $48.87 and its two-hundred day moving average price is $46.18. Canadian Imperial Bank of Commerce has a 12-month low of $34.35 and a 12-month high of $51.14. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $45.18 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 2.24 and a beta of 1.07.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Thursday, February 29th. The bank reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.10. The business had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.47 billion. Canadian Imperial Bank of Commerce had a net margin of 10.79% and a return on equity of 13.07%. Research analysts expect that Canadian Imperial Bank of Commerce will post 5.03 earnings per share for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Thursday, March 28th were issued a $0.6634 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. The ex-dividend date was Wednesday, March 27th. This represents a $2.65 dividend on an annualized basis and a yield of 5.51%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 54.75%.

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.