Ieq Capital LLC Takes Position in Canadian Imperial Bank of Commerce $CM

Ieq Capital LLC bought a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 13,563 shares of the bank’s stock, valued at approximately $1,560,000.

Other large investors also recently bought and sold shares of the company. Sivia Capital Partners LLC bought a new position in Canadian Imperial Bank of Commerce during the second quarter valued at $262,000. EverSource Wealth Advisors LLC lifted its holdings 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 acquiring an additional 193 shares during the last quarter. Brown Advisory Inc. grew its position in Canadian Imperial Bank of Commerce by 2.6% in the second quarter. Brown Advisory Inc. now owns 6,277 shares of the bank’s stock worth $445,000 after acquiring an additional 160 shares in the last quarter. Qube Research & Technologies Ltd grew its position in Canadian Imperial Bank of Commerce by 74.6% in the second quarter. Qube Research & Technologies Ltd now owns 336,017 shares of the bank’s stock worth $23,833,000 after acquiring an additional 143,588 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in Canadian Imperial Bank of Commerce by 7,315.0% during the second quarter. NewEdge Advisors LLC now owns 2,966 shares of the bank’s stock worth $210,000 after acquiring an additional 2,926 shares during the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

CM stock opened at $118.09 on Thursday. Canadian Imperial Bank of Commerce has a twelve month low of $73.50 and a twelve month high of $124.86. The firm has a market cap of $107.80 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 1.23 and a beta of 1.01. The business’s fifty day simple moving average is $117.34 and its two-hundred day simple moving average is $108.84. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings results on Thursday, May 28th. The bank reported $1.86 EPS for the quarter, topping 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 firm had revenue of $5.89 billion for the quarter, compared to analysts’ expectations of $5.86 billion. During the same period in the prior year, the business posted $2.05 earnings per share. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. Analysts predict that Canadian Imperial Bank of Commerce will post 7.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CM. Weiss Ratings upgraded Canadian Imperial Bank of Commerce from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, July 31st. Keefe, Bruyette & Woods started coverage on Canadian Imperial Bank of Commerce in a research report on Friday, August 21st. They set a “market perform” rating on the stock. Barclays restated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 21st. Scotiabank reaffirmed an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, June 16th. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, May 12th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.