Stephens Inc. AR Has $5.69 Million Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Stephens Inc. AR raised its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,457 shares of the bank’s stock after purchasing an additional 2,718 shares during the quarter. Stephens Inc. AR’s holdings in Canadian Imperial Bank of Commerce were worth $5,692,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Heritage Wealth Advisors purchased a new position in shares of Canadian Imperial Bank of Commerce during the 1st quarter valued at $31,000. CWM LLC boosted its holdings in Canadian Imperial Bank of Commerce by 1,524.0% in the first quarter. CWM LLC now owns 406 shares of the bank’s stock worth $32,000 after purchasing an additional 381 shares in the last quarter. Meridian Wealth Management LLC bought a new stake in Canadian Imperial Bank of Commerce in the first quarter worth $32,000. Advisory Alpha LLC bought a new stake in Canadian Imperial Bank of Commerce in the first quarter worth $41,000. Finally, Winslow Evans & Crocker Inc. boosted its holdings in Canadian Imperial Bank of Commerce by 49.3% during the first quarter. Winslow Evans & Crocker Inc. now owns 830 shares of the bank’s stock valued at $66,000 after acquiring an additional 274 shares during the period. 45.15% of the stock is currently owned by institutional investors.

Shares of CM traded up $0.88 during trading hours on Friday, reaching $74.60. 15,193 shares of the company traded hands, compared to its average volume of 307,707. The stock’s fifty day moving average is $78.00 and its 200 day moving average is $81.00. The stock has a market cap of $32.80 billion, a P/E ratio of 8.00, a price-to-earnings-growth ratio of 6.69 and a beta of 1.17. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.05 and a current ratio of 1.05. Canadian Imperial Bank of Commerce has a 1-year low of $72.96 and a 1-year high of $96.98.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Wednesday, May 22nd. The bank reported $2.97 EPS for the quarter, beating the Zacks’ consensus estimate of $2.22 by $0.75. The business had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.36 billion. Canadian Imperial Bank of Commerce had a net margin of 18.83% and a return on equity of 16.30%. During the same quarter in the prior year, the business earned $2.95 earnings per share. On average, equities research analysts predict that Canadian Imperial Bank of Commerce will post 9.02 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Friday, June 28th were given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date of this dividend was Thursday, June 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 44.33%.

CM has been the subject of a number of recent analyst reports. Barclays cut shares of Canadian Imperial Bank of Commerce from an “overweight” rating to an “equal weight” rating in a report on Tuesday, June 11th. Canaccord Genuity lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Desjardins lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. TD Securities lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, Zacks Investment Research raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $120.00.

Canadian Imperial Bank of Commerce Company 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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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