Oakmont Investment Advisors Inc. Takes Position in Canadian Imperial Bank of Commerce $CM

Oakmont Investment Advisors Inc. bought a new position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,815 shares of the bank’s stock, valued at approximately $784,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sivia Capital Partners LLC bought a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter valued at $262,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce by 12.0% during 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 during the last quarter. Brown Advisory Inc. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 2.6% during 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 during the last quarter. Qube Research & Technologies Ltd grew its position in shares of Canadian Imperial Bank of Commerce by 74.6% during the second 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 grew its position in shares of 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 valued at $210,000 after purchasing an additional 2,926 shares in the last quarter. Institutional investors own 49.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CM. Keefe, Bruyette & Woods initiated coverage on Canadian Imperial Bank of Commerce in a research report on Friday, August 21st. They issued a “market perform” rating on the stock. Jefferies Financial Group restated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 28th. Desjardins downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Raymond James Financial reaffirmed a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, May 12th. Finally, TD Securities reiterated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $167.00.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock opened at $117.66 on Friday. The company’s 50-day moving average price is $117.60 and its 200-day moving average price is $109.65. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. The company has a market cap of $107.40 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 1.19 and a beta of 1.01. Canadian Imperial Bank of Commerce has a twelve month low of $77.66 and a twelve month high of $124.86.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, August 27th. The bank reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. The firm had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.74 billion. Canadian Imperial Bank of Commerce had a net margin of 16.09% and a return on equity of 17.02%. On average, equities research analysts forecast that Canadian Imperial Bank of Commerce will post 7.41 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Monday, September 28th will be paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, September 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 41.39%.

Canadian Imperial Bank of Commerce 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.