10,939 Shares in Canadian Imperial Bank of Commerce (NYSE:CM) Purchased by Atlanta Consulting Group Advisors LLC

Atlanta Consulting Group Advisors LLC bought a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 10,939 shares of the bank’s stock, valued at approximately $671,000.

Several other institutional investors also recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV grew its position in shares of Canadian Imperial Bank of Commerce by 23.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock worth $56,000 after buying an additional 171 shares during the period. PDS Planning Inc grew its position in shares of Canadian Imperial Bank of Commerce by 4.7% during the 3rd quarter. PDS Planning Inc now owns 4,978 shares of the bank’s stock worth $305,000 after buying an additional 224 shares during the period. Simplicity Wealth LLC grew its position in shares of Canadian Imperial Bank of Commerce by 3.9% during the 2nd quarter. Simplicity Wealth LLC now owns 6,448 shares of the bank’s stock worth $307,000 after buying an additional 240 shares during the period. Bleakley Financial Group LLC grew its position in shares of Canadian Imperial Bank of Commerce by 5.3% during the 1st quarter. Bleakley Financial Group LLC now owns 6,208 shares of the bank’s stock worth $315,000 after buying an additional 314 shares during the period. Finally, First Bank & Trust grew its position in shares of Canadian Imperial Bank of Commerce by 0.8% during the 3rd quarter. First Bank & Trust now owns 41,646 shares of the bank’s stock worth $2,555,000 after buying an additional 351 shares during the period. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CM. Cormark upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 30th. Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research report on Friday, August 30th. StockNews.com lowered Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Desjardins upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 2nd. Finally, BMO Capital Markets boosted their price objective on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $81.00.

Canadian Imperial Bank of Commerce Trading Down 0.5 %

NYSE CM opened at $63.58 on Friday. The stock has a market capitalization of $60.06 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 1.84 and a beta of 1.06. The stock’s 50 day moving average price is $62.05 and its two-hundred day moving average price is $54.41. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. Canadian Imperial Bank of Commerce has a 52 week low of $37.97 and a 52 week high of $65.09.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Thursday, August 29th. The bank reported $1.93 EPS for the quarter, beating the consensus estimate of $1.74 by $0.19. The firm had revenue of $6.60 billion for the quarter, compared to analysts’ expectations of $6.28 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.50% and a net margin of 10.66%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.14 EPS. As a group, analysts anticipate that Canadian Imperial Bank of Commerce will post 5.34 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Friday, September 27th were paid a $0.652 dividend. This represents a $2.61 annualized dividend and a yield of 4.10%. The ex-dividend date was Friday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is 52.46%.

Canadian Imperial Bank of Commerce Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.