Northwestern Mutual Wealth Management Co. Has $1.36 Million Position in Canadian Imperial Bank of Commerce $CM

Northwestern Mutual Wealth Management Co. grew its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 120.4% during the fourth quarter, HoldingsChannel reports. The firm owned 14,959 shares of the bank’s stock after buying an additional 8,173 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Canadian Imperial Bank of Commerce were worth $1,355,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CM. Sivia Capital Partners LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 2nd quarter valued at approximately $262,000. EverSource Wealth Advisors LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 12.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,801 shares of the bank’s stock valued at $128,000 after purchasing an additional 193 shares in the last quarter. Brown Advisory Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 2.6% in the 2nd quarter. Brown Advisory Inc. now owns 6,277 shares of the bank’s stock valued at $445,000 after purchasing an additional 160 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Canadian Imperial Bank of Commerce by 74.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 336,017 shares of the bank’s stock valued at $23,833,000 after purchasing an additional 143,588 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 7,315.0% in the 2nd quarter. NewEdge Advisors LLC now owns 2,966 shares of the bank’s stock valued at $210,000 after purchasing an additional 2,926 shares in the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Up 0.1%

Shares of NYSE CM opened at $108.99 on Monday. The company has a 50 day simple moving average of $107.14 and a 200 day simple moving average of $98.28. The firm has a market cap of $99.49 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.17 and a beta of 1.02. Canadian Imperial Bank of Commerce has a 1 year low of $67.46 and a 1 year high of $117.05. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.08. The business had revenue of $5.89 billion during the quarter, compared to analyst estimates of $5.86 billion. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the business earned $2.05 EPS. On average, research analysts forecast that Canadian Imperial Bank of Commerce will post 7.43 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Monday, June 29th will be issued a dividend of $1.07 per share. The ex-dividend date is Monday, June 29th. This represents a $4.28 annualized dividend and a yield of 3.9%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 43.13%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Zacks Research downgraded shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Barclays reiterated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Monday, June 1st. Jefferies Financial Group reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 28th. Weiss Ratings lowered shares of Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, May 12th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $167.00.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.