Kovack Advisors Inc. Acquires Shares of 2,895 Canadian Imperial Bank of Commerce $CM

Kovack Advisors Inc. acquired a new stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,895 shares of the bank’s stock, valued at approximately $205,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ameritas Advisory Services LLC bought a new stake in shares of Canadian Imperial Bank of Commerce during the second quarter valued at approximately $34,000. TruNorth Capital Management LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 156.0% in the 1st quarter. TruNorth Capital Management LLC now owns 512 shares of the bank’s stock worth $29,000 after purchasing an additional 312 shares in the last quarter. HM Payson & Co. bought a new stake in shares of Canadian Imperial Bank of Commerce in the 1st quarter worth $29,000. Truvestments Capital LLC bought a new stake in shares of Canadian Imperial Bank of Commerce in the 1st quarter worth $32,000. Finally, Private Trust Co. NA increased its holdings in shares of Canadian Imperial Bank of Commerce by 40.0% in the 1st quarter. Private Trust Co. NA now owns 781 shares of the bank’s stock worth $44,000 after purchasing an additional 223 shares in the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

Shares of NYSE CM opened at $83.84 on Tuesday. The firm has a 50 day moving average of $80.15 and a 200 day moving average of $72.96. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $77.87 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 1.76 and a beta of 1.03. Canadian Imperial Bank of Commerce has a 12-month low of $53.62 and a 12-month high of $84.01.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued 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 net margin of 12.94% and a return on equity of 14.67%. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter in the previous year, the firm posted $1.93 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, research 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 declared a quarterly dividend, which was paid on Tuesday, October 28th. Shareholders of record on Monday, September 29th were issued a dividend of $0.97 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. This represents a $3.88 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Monday, September 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 47.64%.

Analysts Set New Price Targets

Several research firms recently commented on CM. Royal Bank Of Canada lifted their price objective on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.