AE Wealth Management LLC Acquires 1,012 Shares of Canadian Imperial Bank of Commerce (CM)

AE Wealth Management LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 21.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,840 shares of the bank’s stock after buying an additional 1,012 shares during the period. AE Wealth Management LLC’s holdings in Canadian Imperial Bank of Commerce were worth $508,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CM. The Manufacturers Life Insurance Company lifted its position in Canadian Imperial Bank of Commerce by 19.1% in the first quarter. The Manufacturers Life Insurance Company now owns 4,764,698 shares of the bank’s stock worth $420,628,000 after purchasing an additional 762,791 shares during the period. First Bank & Trust lifted its position in Canadian Imperial Bank of Commerce by 12.0% in the second quarter. First Bank & Trust now owns 13,957 shares of the bank’s stock worth $1,213,000 after purchasing an additional 1,494 shares during the period. AMP Capital Investors Ltd lifted its position in Canadian Imperial Bank of Commerce by 7.8% in the second quarter. AMP Capital Investors Ltd now owns 155,792 shares of the bank’s stock worth $13,544,000 after purchasing an additional 11,245 shares during the period. Morgan Stanley lifted its position in Canadian Imperial Bank of Commerce by 16.4% in the second quarter. Morgan Stanley now owns 551,597 shares of the bank’s stock worth $47,944,000 after purchasing an additional 77,880 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its position in Canadian Imperial Bank of Commerce by 18.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 12,230 shares of the bank’s stock worth $1,064,000 after purchasing an additional 1,870 shares during the period. Institutional investors and hedge funds own 46.00% of the company’s stock.

Shares of NYSE:CM traded down $0.25 on Monday, reaching $92.82. 151,100 shares of the company traded hands, compared to its average volume of 367,010. 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 fifty-two week low of $85.47 and a fifty-two week high of $100.01. The company has a market capitalization of $41.60 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 1.81 and a beta of 1.20.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, August 23rd. The bank reported $3.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.22 by $0.86. Canadian Imperial Bank of Commerce had a net margin of 21.27% and a return on equity of 17.77%. The company had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the business earned $2.77 EPS. As a group, research analysts forecast that Canadian Imperial Bank of Commerce will post 9.35 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 29th. Shareholders of record on Friday, September 28th will be paid a dividend of $1.0412 per share. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. This represents a $4.16 annualized dividend and a yield of 4.49%. The ex-dividend date is Thursday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is 46.91%.

CM has been the subject of a number of research analyst reports. TheStreet upgraded Canadian Imperial Bank of Commerce from a “c” rating to a “b-” rating in a research report on Thursday, August 23rd. Zacks Investment Research downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Finally, ValuEngine downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Thursday, July 19th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $118.63.

About Canadian Imperial Bank of Commerce

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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