Waratah Capital Advisors Ltd. Purchases 86,809 Shares of Canadian Imperial Bank of Commerce $CM

Waratah Capital Advisors Ltd. grew its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 347.2% in the third quarter, HoldingsChannel.com reports. The fund owned 111,809 shares of the bank’s stock after buying an additional 86,809 shares during the quarter. Waratah Capital Advisors Ltd.’s holdings in Canadian Imperial Bank of Commerce were worth $8,932,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Sivia Capital Partners LLC acquired a new stake in Canadian Imperial Bank of Commerce during the 2nd quarter valued at $262,000. L.M. Kohn & Company grew its holdings in shares of Canadian Imperial Bank of Commerce by 6.0% during the second quarter. L.M. Kohn & Company now owns 4,090 shares of the bank’s stock worth $290,000 after purchasing an additional 230 shares during the last quarter. Daymark Wealth Partners LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce in the second quarter valued at $392,000. Assetmark Inc. raised its holdings in shares of Canadian Imperial Bank of Commerce by 14.9% in the second quarter. Assetmark Inc. now owns 274,467 shares of the bank’s stock valued at $19,440,000 after buying an additional 35,688 shares during the last quarter. Finally, Atria Investments Inc lifted its position in Canadian Imperial Bank of Commerce by 2.5% during the 2nd quarter. Atria Investments Inc now owns 13,883 shares of the bank’s stock worth $983,000 after buying an additional 336 shares in the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock opened at $98.19 on Wednesday. Canadian Imperial Bank of Commerce has a 52 week low of $53.62 and a 52 week high of $100.39. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $90.98 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.29 and a beta of 1.02. The firm has a fifty day moving average of $93.63 and a two-hundred day moving average of $85.90.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Thursday, December 4th. The bank reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.08. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.23 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.93% and a net margin of 13.57%.The firm’s revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.91 earnings per share. As a group, equities research analysts predict that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Monday, December 29th were given a $1.07 dividend. The ex-dividend date was Monday, December 29th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.4%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 50.25%.

Analyst Ratings Changes

Several research firms have weighed in on CM. Zacks Research cut shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Monday, November 3rd. Barclays raised shares of Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a report on Thursday, February 19th. Raymond James Financial assumed coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, November 25th. They set a “market perform” rating on the stock. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.50.

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.