Williamson Legacy Group LLC Increases Stake in Canadian Imperial Bank of Commerce $CM

Williamson Legacy Group LLC raised its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 357.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 18,880 shares of the bank’s stock after purchasing an additional 14,751 shares during the quarter. Williamson Legacy Group LLC’s holdings in Canadian Imperial Bank of Commerce were worth $1,337,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Truvestments Capital LLC purchased a new position in shares of Canadian Imperial Bank of Commerce in the first quarter worth $32,000. Ameritas Advisory Services LLC bought a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter worth $34,000. Atlantic Union Bankshares Corp purchased a new position in shares of Canadian Imperial Bank of Commerce in the second quarter valued at about $35,000. Elevation Point Wealth Partners LLC bought a new position in shares of Canadian Imperial Bank of Commerce during the second quarter valued at about $43,000. Finally, MAI Capital Management raised its stake in shares of Canadian Imperial Bank of Commerce by 57.5% during the second quarter. MAI Capital Management now owns 737 shares of the bank’s stock valued at $52,000 after acquiring an additional 269 shares during the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Up 0.5%

Shares of NYSE:CM opened at $86.13 on Friday. Canadian Imperial Bank of Commerce has a 52-week low of $53.62 and a 52-week high of $87.37. The firm has a market capitalization of $79.99 billion, a P/E ratio of 14.55, a P/E/G ratio of 1.76 and a beta of 1.03. The stock has a 50 day moving average price of $82.72 and a 200-day moving average price of $75.85. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 1.04.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, August 28th. The bank reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.14. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.12 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.67% and a net margin of 12.94%.The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.93 earnings per share. As a group, equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CM shares. Raymond James Financial initiated coverage on Canadian Imperial Bank of Commerce in a research note on Tuesday. They issued a “market perform” rating on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, October 8th. Royal Bank Of Canada boosted their target price on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. Finally, Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of “Moderate Buy” and a consensus price target of $107.50.

Canadian Imperial Bank of Commerce 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.