West Family Investments Inc. Increases Stock Position in Canadian Imperial Bank of Commerce $CM

West Family Investments Inc. grew its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 12.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,213 shares of the bank’s stock after buying an additional 666 shares during the period. West Family Investments Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $440,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

CM has been the subject of several research reports. Raymond James Financial initiated coverage on Canadian Imperial Bank of Commerce in a research note on Tuesday, November 25th. They issued a “market perform” rating for the company. Royal Bank Of Canada lifted their target price on shares of Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Wall Street Zen upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Monday, November 3rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $107.50.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at $86.13 on Friday. The stock has a market capitalization of $79.99 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 1.76 and a beta of 1.03. The firm’s 50-day moving average price is $82.72 and its two-hundred day moving average price is $75.92. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a 12-month low of $53.62 and a 12-month high of $87.37.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results 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. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.12 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.67% and a net margin of 12.94%.Canadian Imperial Bank of Commerce’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.93 EPS. As a group, equities analysts predict that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current year.

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.