MidFirst Bank Buys New Holdings in Canadian Imperial Bank of Commerce $CM

MidFirst Bank purchased a new position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 28,951 shares of the bank’s stock, valued at approximately $2,623,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sivia Capital Partners LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth $262,000. EverSource Wealth Advisors LLC increased its holdings in Canadian Imperial Bank of Commerce by 12.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,801 shares of the bank’s stock valued at $128,000 after buying an additional 193 shares during the last quarter. Brown Advisory Inc. raised its stake in Canadian Imperial Bank of Commerce by 2.6% in the second quarter. Brown Advisory Inc. now owns 6,277 shares of the bank’s stock valued at $445,000 after buying an additional 160 shares in the last quarter. Qube Research & Technologies Ltd raised its stake in Canadian Imperial Bank of Commerce by 74.6% in the second quarter. Qube Research & Technologies Ltd now owns 336,017 shares of the bank’s stock valued at $23,833,000 after buying an additional 143,588 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Canadian Imperial Bank of Commerce by 7,315.0% during the 2nd quarter. NewEdge Advisors LLC now owns 2,966 shares of the bank’s stock worth $210,000 after buying an additional 2,926 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on CM shares. Weiss Ratings cut Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, June 4th. Barclays reissued an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research report on Monday, June 1st. 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 note on Monday, June 1st. Raymond James Financial reiterated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Finally, Scotiabank reissued an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

Canadian Imperial Bank of Commerce Stock Down 1.0%

Canadian Imperial Bank of Commerce stock opened at $111.72 on Friday. The company has a market capitalization of $101.98 billion, a P/E ratio of 15.35, a PEG ratio of 1.21 and a beta of 1.02. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05. Canadian Imperial Bank of Commerce has a fifty-two week low of $68.53 and a fifty-two week high of $117.05. The stock has a 50-day simple moving average of $110.15 and a 200-day simple moving average of $100.01.

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

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Monday, June 29th will be given a dividend of $1.07 per share. The ex-dividend date is Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.8%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 43.13%.

Canadian Imperial Bank of Commerce Profile

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.