132,653 Shares in Canadian Imperial Bank of Commerce $CM Bought by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc purchased a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 132,653 shares of the bank’s stock, valued at approximately $15,246,000. Canadian Imperial Bank of Commerce accounts for 2.2% of K.J. Harrison & Partners Inc’s investment portfolio, making the stock its 7th biggest position.

A number of other hedge funds also recently bought and sold shares of CM. Larson Financial Group LLC grew its position in shares of Canadian Imperial Bank of Commerce by 119.7% during the third quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock worth $32,000 after buying an additional 219 shares in the last quarter. EFG International AG purchased a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $35,000. Bell Investment Advisors Inc acquired a new stake in Canadian Imperial Bank of Commerce in the second quarter valued at approximately $36,000. Global Assets Advisory LLC acquired a new stake in Canadian Imperial Bank of Commerce in the first quarter valued at approximately $54,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in Canadian Imperial Bank of Commerce by 87.0% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock worth $69,000 after acquiring an additional 400 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Down 0.2%

Shares of NYSE:CM opened at $123.49 on Tuesday. Canadian Imperial Bank of Commerce has a 1-year low of $72.57 and a 1-year high of $124.86. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $112.73 billion, a P/E ratio of 16.96, a P/E/G ratio of 1.34 and a beta of 1.01. The firm has a fifty day moving average price of $116.61 and a 200 day moving average price of $107.68.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. The company had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.86 billion. During the same period in the previous year, the business posted $2.05 earnings per share. Canadian Imperial Bank of Commerce’s quarterly revenue was up 14.0% on a year-over-year basis. Sell-side analysts predict that Canadian Imperial Bank of Commerce will post 7.33 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 28th. Investors of record on Monday, June 29th were given a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 3.5%. The ex-dividend date was Monday, June 29th. Canadian Imperial Bank of Commerce’s payout ratio is 42.58%.

Analyst Ratings Changes

CM has been the topic of a number of recent analyst reports. Royal Bank Of Canada increased their price objective on shares of Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. TD Securities reiterated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, August 12th. Weiss Ratings raised Canadian Imperial Bank of Commerce from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, July 31st. Raymond James Financial restated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, June 16th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.