AE Wealth Management LLC Has $508,000 Position in Canadian Imperial Bank of Commerce (CM)

AE Wealth Management LLC boosted its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 21.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 5,840 shares of the bank’s stock after buying an additional 1,012 shares during the quarter. AE Wealth Management LLC’s holdings in Canadian Imperial Bank of Commerce were worth $508,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CM. Wells Fargo & Company MN raised its holdings in Canadian Imperial Bank of Commerce by 9.5% during the first quarter. Wells Fargo & Company MN now owns 766,623 shares of the bank’s stock valued at $67,677,000 after acquiring an additional 66,352 shares during the period. Comerica Bank raised its holdings in Canadian Imperial Bank of Commerce by 3.9% during the first quarter. Comerica Bank now owns 33,431 shares of the bank’s stock valued at $2,917,000 after acquiring an additional 1,246 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Canadian Imperial Bank of Commerce by 8.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 128,665 shares of the bank’s stock valued at $11,359,000 after acquiring an additional 9,981 shares during the period. D.A. Davidson & CO. bought a new stake in Canadian Imperial Bank of Commerce during the first quarter valued at about $469,000. Finally, LSV Asset Management raised its holdings in Canadian Imperial Bank of Commerce by 2.8% during the first quarter. LSV Asset Management now owns 36,700 shares of the bank’s stock valued at $3,239,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 46.01% of the company’s stock.

Shares of CM stock opened at $94.01 on Friday. Canadian Imperial Bank of Commerce has a 12-month low of $85.47 and a 12-month high of $100.01. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $41.79 billion, a PE ratio of 10.57, a PEG ratio of 1.82 and a beta of 1.20.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, August 23rd. The bank reported $3.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.22 by $0.86. Canadian Imperial Bank of Commerce had a return on equity of 17.77% and a net margin of 21.27%. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the previous year, the firm posted $2.77 earnings per share. analysts predict that Canadian Imperial Bank of Commerce will post 9.35 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 29th. Stockholders of record on Friday, September 28th will be issued a $1.0412 dividend. This represents a $4.16 annualized dividend and a dividend yield of 4.43%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend is Thursday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is 46.23%.

A number of research firms have commented on CM. ValuEngine raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Thursday, August 30th. TheStreet raised Canadian Imperial Bank of Commerce from a “c” rating to a “b-” rating in a report on Thursday, August 23rd. Zacks Investment Research cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Monday, August 13th. National Bank Financial cut Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a report on Wednesday, May 23rd. Finally, Royal Bank of Canada decreased their price target on Canadian Imperial Bank of Commerce from $141.00 to $135.00 and set a “sector perform” rating on the stock in a report on Thursday, May 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $118.63.

Canadian Imperial Bank of Commerce Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, 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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