Elevated Capital Advisors LLC Buys New Shares in Canadian Imperial Bank of Commerce (NYSE:CM)

Elevated Capital Advisors LLC bought a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,744 shares of the bank’s stock, valued at approximately $228,000.

A number of other institutional investors also recently added to or reduced their stakes in CM. Crossmark Global Holdings Inc. grew its position in shares of Canadian Imperial Bank of Commerce by 0.8% during the fourth quarter. Crossmark Global Holdings Inc. now owns 133,665 shares of the bank’s stock worth $11,121,000 after acquiring an additional 1,109 shares during the last quarter. Pinnacle Financial Partners Inc. lifted its holdings in Canadian Imperial Bank of Commerce by 1.7% in the 4th quarter. Pinnacle Financial Partners Inc. now owns 43,401 shares of the bank’s stock valued at $3,611,000 after acquiring an additional 727 shares during the last quarter. Fiera Capital Corp lifted its holdings in Canadian Imperial Bank of Commerce by 8.3% in the 4th quarter. Fiera Capital Corp now owns 137,588 shares of the bank’s stock valued at $11,456,000 after acquiring an additional 10,507 shares during the last quarter. GYL Financial Synergies LLC lifted its holdings in Canadian Imperial Bank of Commerce by 14.9% in the 4th quarter. GYL Financial Synergies LLC now owns 5,721 shares of the bank’s stock valued at $476,000 after acquiring an additional 743 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its holdings in Canadian Imperial Bank of Commerce by 4.2% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 31,029 shares of the bank’s stock valued at $2,586,000 after acquiring an additional 1,252 shares during the last quarter. Hedge funds and other institutional investors own 44.50% of the company’s stock.

NYSE CM opened at $83.09 on Friday. The stock has a market capitalization of $37.14 billion, a price-to-earnings ratio of 9.31, a PEG ratio of 2.49 and a beta of 1.06. The stock’s 50 day moving average price is $82.74 and its two-hundred day moving average price is $82.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.92 and a current ratio of 0.92. Canadian Imperial Bank of Commerce has a 52 week low of $73.20 and a 52 week high of $87.62.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings results on Thursday, December 5th. The bank reported $2.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.32 by $0.52. The firm had revenue of $4.77 billion for the quarter, compared to analyst estimates of $4.76 billion. Canadian Imperial Bank of Commerce had a return on equity of 15.57% and a net margin of 17.72%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.00 EPS. On average, equities research analysts forecast that Canadian Imperial Bank of Commerce will post 9.07 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th were issued a $1.0908 dividend. This represents a $4.36 dividend on an annualized basis and a yield of 5.25%. The ex-dividend date was Thursday, December 26th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 48.38%.

A number of analysts have commented on the stock. ValuEngine raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Bank of America upgraded Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a report on Tuesday, February 4th. CIBC upgraded Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a report on Tuesday, February 4th. Citigroup downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating in a report on Tuesday, December 17th. Finally, Credit Suisse Group lowered their price target on Canadian Imperial Bank of Commerce from $105.00 to $104.00 and set a “neutral” rating on the stock in a report on Friday, December 6th. Fourteen equities research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and a consensus price target of $113.67.

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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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