15,956 Shares in Canadian Imperial Bank of Commerce $CM Purchased by Tacita Capital Inc

Tacita Capital Inc acquired a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 15,956 shares of the bank’s stock, valued at approximately $1,834,000. Canadian Imperial Bank of Commerce accounts for about 1.0% of Tacita Capital Inc’s holdings, making the stock its 22nd largest position.

Several other hedge funds also recently bought and sold shares of CM. Larson Financial Group LLC increased its position in shares of Canadian Imperial Bank of Commerce by 119.7% during the third quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock valued at $32,000 after acquiring an additional 219 shares during the last quarter. EFG International AG acquired a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth approximately $35,000. Bell Investment Advisors Inc acquired a new position in shares of Canadian Imperial Bank of Commerce in the 2nd quarter worth approximately $36,000. Global Assets Advisory LLC purchased a new position in shares of Canadian Imperial Bank of Commerce during the 1st quarter worth approximately $54,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in shares of Canadian Imperial Bank of Commerce by 87.0% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock worth $69,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM stock opened at $118.01 on Thursday. The firm has a 50 day moving average of $116.99 and a two-hundred day moving average of $108.05. The stock has a market capitalization of $107.73 billion, a PE ratio of 16.21, a P/E/G ratio of 1.32 and a beta of 1.01. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. Canadian Imperial Bank of Commerce has a 52 week low of $72.57 and a 52 week high of $124.86.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.08. The business had revenue of $5.89 billion for the quarter, compared to analysts’ expectations of $5.86 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period last year, the firm earned $2.05 earnings per share. On average, research analysts predict that Canadian Imperial Bank of Commerce will post 7.33 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Monday, June 29th were issued a dividend of $1.07 per share. The ex-dividend date was Monday, June 29th. This represents a $4.28 annualized dividend and a yield of 3.6%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 42.58%.

Wall Street Analyst Weigh In

CM has been the topic of a number of research analyst reports. Weiss Ratings raised Canadian Imperial Bank of Commerce from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, July 31st. Zacks Research cut Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Raymond James Financial reissued a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 28th. Finally, Desjardins lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $167.00.

Canadian Imperial Bank of Commerce Company 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.