Measured Wealth Private Client Group LLC Makes New Investment in Canadian Imperial Bank of Commerce (NYSE:CM)

Measured Wealth Private Client Group LLC bought a new position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,027 shares of the bank’s stock, valued at approximately $356,000.

Other large investors have also bought and sold shares of the company. Janiczek Wealth Management LLC raised its stake in Canadian Imperial Bank of Commerce by 34.9% during the fourth quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank’s stock valued at $41,000 after purchasing an additional 222 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in Canadian Imperial Bank of Commerce by 3.8% during the first quarter. Gulf International Bank UK Ltd now owns 6,390 shares of the bank’s stock valued at $324,000 after purchasing an additional 236 shares in the last quarter. Glassman Wealth Services raised its stake in shares of Canadian Imperial Bank of Commerce by 57.5% in the fourth quarter. Glassman Wealth Services now owns 693 shares of the bank’s stock valued at $33,000 after acquiring an additional 253 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Canadian Imperial Bank of Commerce by 4.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,200 shares of the bank’s stock valued at $347,000 after acquiring an additional 300 shares during the period. Finally, Raymond James Trust N.A. raised its stake in shares of Canadian Imperial Bank of Commerce by 2.3% in the fourth quarter. Raymond James Trust N.A. now owns 13,576 shares of the bank’s stock valued at $654,000 after acquiring an additional 307 shares during the period. 49.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CM. Barclays began coverage on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, March 20th. They issued an “underweight” rating on the stock. UBS Group began coverage on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday. They issued a “neutral” rating on the stock. BMO Capital Markets increased their target price on shares of Canadian Imperial Bank of Commerce from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Keefe, Bruyette & Woods raised shares of Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a research note on Monday, June 3rd. Finally, StockNews.com downgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and a consensus price target of $67.00.

Canadian Imperial Bank of Commerce Stock Up 1.6 %

Shares of Canadian Imperial Bank of Commerce stock opened at $48.03 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.06 and a quick ratio of 1.06. Canadian Imperial Bank of Commerce has a 1 year low of $34.35 and a 1 year high of $51.14. The firm’s 50-day moving average is $48.36 and its two-hundred day moving average is $47.83. The stock has a market cap of $45.29 billion, a price-to-earnings ratio of 9.88, a PEG ratio of 1.87 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, May 30th. The bank reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.07. Canadian Imperial Bank of Commerce had a net margin of 10.46% and a return on equity of 13.06%. The company had revenue of $4.54 billion for the quarter, compared to analysts’ expectations of $4.48 billion. As a group, research analysts expect that Canadian Imperial Bank of Commerce will post 5.05 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Friday, June 28th will be issued a $0.653 dividend. This represents a $2.61 dividend on an annualized basis and a dividend yield of 5.44%. The ex-dividend date is Friday, June 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 53.70%.

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