111 Capital Purchases Shares of 6,864 Canadian Imperial Bank of Commerce $CM

111 Capital purchased a new position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 4th quarter, HoldingsChannel reports. The fund purchased 6,864 shares of the bank’s stock, valued at approximately $622,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Larson Financial Group LLC boosted its position in shares of Canadian Imperial Bank of Commerce by 119.7% during the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock valued at $32,000 after acquiring an additional 219 shares during the last quarter. Lodestone Wealth Management LLC bought a new stake in Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $37,000. Smartleaf Asset Management LLC grew its stake in Canadian Imperial Bank of Commerce by 128.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 723 shares of the bank’s stock worth $58,000 after buying an additional 406 shares in the last quarter. Aventura Private Wealth LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth $69,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in shares of Canadian Imperial Bank of Commerce by 87.0% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock valued at $69,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Down 0.1%

Shares of CM opened at $108.99 on Friday. The stock has a market capitalization of $99.49 billion, a P/E ratio of 14.97, a PEG ratio of 1.17 and a beta of 1.02. Canadian Imperial Bank of Commerce has a twelve month low of $67.46 and a twelve month high of $117.05. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. The firm has a fifty day simple moving average of $107.14 and a two-hundred day simple moving average of $98.20.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.08. The firm had revenue of $5.89 billion for the quarter, compared to analysts’ expectations of $5.86 billion. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.05 earnings per share. On average, research analysts anticipate that Canadian Imperial Bank of Commerce will post 7.43 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Monday, June 29th will be given a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a yield of 3.9%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 43.13%.

Analysts Set New Price Targets

CM has been the topic of a number of research analyst reports. Barclays reissued an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, June 1st. Zacks Research lowered Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Royal Bank Of Canada boosted their target price on Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Raymond James Financial reaffirmed a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Finally, Jefferies Financial Group reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $167.00.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.