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Atria Investments LLC Invests $1.16 Million in Canadian Imperial Bank of Commerce (NYSE:CM)

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Atria Investments LLC acquired a new position in Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 9,488 shares of the bank’s stock, valued at approximately $1,155,000.

A number of other hedge funds have also recently made changes to their positions in the business. Quadrant Capital Group LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 4.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,423 shares of the bank’s stock worth $282,000 after buying an additional 102 shares in the last quarter. Eaton Vance Management lifted its position in shares of Canadian Imperial Bank of Commerce by 0.5% in the fourth quarter. Eaton Vance Management now owns 23,164 shares of the bank’s stock worth $2,559,000 after buying an additional 120 shares in the last quarter. Naples Global Advisors LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 0.5% in the fourth quarter. Naples Global Advisors LLC now owns 30,038 shares of the bank’s stock worth $3,501,000 after buying an additional 150 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Canadian Imperial Bank of Commerce by 5.7% in the first quarter. Fifth Third Bancorp now owns 3,145 shares of the bank’s stock worth $383,000 after buying an additional 171 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 44.4% in the first quarter. CWM LLC now owns 572 shares of the bank’s stock worth $70,000 after buying an additional 176 shares in the last quarter. Institutional investors own 43.66% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Up 1.6 %

Shares of NYSE:CM opened at $49.68 on Thursday. Canadian Imperial Bank of Commerce has a 52-week low of $45.09 and a 52-week high of $66.24. The stock has a market cap of $44.88 billion, a P/E ratio of 8.84, a price-to-earnings-growth ratio of 2.16 and a beta of 1.04. The business’s 50 day moving average is $50.77 and its 200 day moving average is $57.74. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14.

Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) last announced its earnings results on Thursday, May 26th. The bank reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.01. The business had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.32 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.24% and a net margin of 26.74%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.85 EPS. Sell-side analysts predict that Canadian Imperial Bank of Commerce will post 5.84 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 28th. Shareholders of record on Tuesday, June 28th will be given a dividend of $0.645 per share. This represents a $2.58 annualized dividend and a yield of 5.19%. The ex-dividend date is Monday, June 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.63. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 46.62%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CM. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Thursday, July 7th. TD Securities decreased their price objective on Canadian Imperial Bank of Commerce from C$82.00 to C$78.00 and set a “buy” rating on the stock in a research report on Friday, May 27th. National Bankshares upped their price objective on Canadian Imperial Bank of Commerce from C$83.50 to C$84.00 in a research report on Friday, May 27th. Stifel Nicolaus decreased their price objective on Canadian Imperial Bank of Commerce from C$87.00 to C$86.00 and set a “hold” rating on the stock in a research report on Friday, April 8th. Finally, Bank of America downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 17th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.71.

About Canadian Imperial Bank of Commerce

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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 Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

Further Reading

Want to see what other hedge funds are holding CM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM).

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