107,248 Shares in Canadian Imperial Bank of Commerce $CM Acquired by Graham Capital Management L.P.

Graham Capital Management L.P. acquired a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 107,248 shares of the bank’s stock, valued at approximately $6,038,000.

A number of other hedge funds have also recently added to or reduced their stakes in CM. Gradient Investments LLC increased its stake in shares of Canadian Imperial Bank of Commerce by 2.4% in the 1st quarter. Gradient Investments LLC now owns 8,278 shares of the bank’s stock valued at $466,000 after purchasing an additional 191 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Canadian Imperial Bank of Commerce by 4.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank’s stock worth $255,000 after buying an additional 194 shares during the period. Benjamin Edwards Inc. lifted its holdings in Canadian Imperial Bank of Commerce by 5.3% during the 1st quarter. Benjamin Edwards Inc. now owns 4,320 shares of the bank’s stock worth $243,000 after buying an additional 216 shares during the period. Private Trust Co. NA lifted its holdings in Canadian Imperial Bank of Commerce by 40.0% during the 1st quarter. Private Trust Co. NA now owns 781 shares of the bank’s stock worth $44,000 after buying an additional 223 shares during the period. Finally, PDS Planning Inc lifted its stake in shares of Canadian Imperial Bank of Commerce by 5.2% in the 1st quarter. PDS Planning Inc now owns 5,438 shares of the bank’s stock valued at $306,000 after purchasing an additional 271 shares during the period. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Up 0.2%

Shares of NYSE:CM opened at $77.20 on Friday. The stock’s 50-day moving average price is $72.72 and its 200-day moving average price is $65.57. Canadian Imperial Bank of Commerce has a 12-month low of $53.62 and a 12-month high of $77.73. The stock has a market capitalization of $71.75 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 1.69 and a beta of 1.06. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.16.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, August 28th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. Canadian Imperial Bank of Commerce had a return on equity of 14.79% and a net margin of 12.94%.The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.12 billion. During the same period last year, the firm earned $1.93 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 28th. Stockholders of record on Monday, September 29th will be paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 5.0%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend is Monday, September 29th. Canadian Imperial Bank of Commerce’s payout ratio is 49.56%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wall Street Zen raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Royal Bank Of Canada upped their target price on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the company an “outperform” rating in a report on Friday. Scotiabank began coverage on Canadian Imperial Bank of Commerce in a research note on Thursday, May 15th. They issued a “sector outperform” rating on the stock. National Bank Financial downgraded Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research report on Friday, May 30th. Finally, BMO Capital Markets increased their target price on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and a consensus price target of $107.50.

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.