Natixis Advisors LLC Buys 1,626 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Natixis Advisors LLC raised its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,056 shares of the bank’s stock after purchasing an additional 1,626 shares during the period. Natixis Advisors LLC’s holdings in Canadian Imperial Bank of Commerce were worth $2,047,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Ridgewood Investments LLC purchased a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter worth about $29,000. EverSource Wealth Advisors LLC raised its holdings in shares of Canadian Imperial Bank of Commerce by 574.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,066 shares of the bank’s stock worth $51,000 after buying an additional 908 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth approximately $51,000. Principal Securities Inc. purchased a new position in Canadian Imperial Bank of Commerce during the 4th quarter valued at $64,000. Finally, Jones Financial Companies Lllp bought a new position in Canadian Imperial Bank of Commerce in the 4th quarter valued at $107,000. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Stock Up 2.0 %

Shares of Canadian Imperial Bank of Commerce stock opened at $60.53 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.06 and a quick ratio of 1.06. The stock has a market cap of $57.18 billion, a price-to-earnings ratio of 12.45, a PEG ratio of 1.79 and a beta of 1.06. The firm’s 50-day moving average is $52.10 and its two-hundred day moving average is $49.86. Canadian Imperial Bank of Commerce has a 1 year low of $34.35 and a 1 year high of $60.56.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Thursday, August 29th. The bank reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. The firm had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.28 billion. Canadian Imperial Bank of Commerce had a net margin of 10.66% and a return on equity of 13.63%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the firm earned $1.14 earnings per share. As a group, research analysts expect that Canadian Imperial Bank of Commerce will post 5.36 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be issued a $0.652 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.61 dividend on an annualized basis and a dividend yield of 4.31%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 54.32%.

Analyst Ratings Changes

Several research firms have recently weighed in on CM. Cormark upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 30th. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a report on Friday, August 30th. BMO Capital Markets boosted their price objective on shares of Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. UBS Group assumed coverage on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, July 2nd. They set a “neutral” rating on the stock. Finally, Keefe, Bruyette & Woods upgraded Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a report on Monday, June 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $81.00.

Canadian Imperial Bank of Commerce 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.