Canadian Imperial Bank of Commerce $CM Holdings Raised by Leuthold Group LLC

Leuthold Group LLC grew its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 9.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,837 shares of the bank’s stock after acquiring an additional 7,495 shares during the period. Canadian Imperial Bank of Commerce accounts for about 0.9% of Leuthold Group LLC’s investment portfolio, making the stock its 28th biggest position. Leuthold Group LLC’s holdings in Canadian Imperial Bank of Commerce were worth $10,008,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. West Family Investments Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 4.1% in the second quarter. West Family Investments Inc. now owns 2,724 shares of the bank’s stock valued at $313,000 after purchasing an additional 107 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in Canadian Imperial Bank of Commerce by 0.8% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 14,479 shares of the bank’s stock worth $1,665,000 after purchasing an additional 110 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Canadian Imperial Bank of Commerce by 1.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 10,192 shares of the bank’s stock worth $1,172,000 after buying an additional 113 shares in the last quarter. Carter Financial Group INC. lifted its holdings in Canadian Imperial Bank of Commerce by 5.8% during the 3rd quarter. Carter Financial Group INC. now owns 2,176 shares of the bank’s stock worth $241,000 after buying an additional 120 shares in the last quarter. Finally, Greenspring Advisors LLC boosted its position in Canadian Imperial Bank of Commerce by 5.6% in the 2nd quarter. Greenspring Advisors LLC now owns 2,445 shares of the bank’s stock valued at $281,000 after buying an additional 129 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CM has been the subject of several research reports. TD Securities reissued 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 (a-)” rating to a “buy (a)” rating in a research note on Wednesday, November 4th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 28th. Desjardins lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Barclays reissued an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average price target of $160.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM opened at $116.71 on Tuesday. The firm has a market capitalization of $105.68 billion, a PE ratio of 15.58, a PEG ratio of 1.10 and a beta of 1.01. 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 company’s 50-day moving average is $113.78 and its 200-day moving average is $109.35. Canadian Imperial Bank of Commerce has a fifty-two week low of $82.71 and a fifty-two week high of $124.86.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Thursday, August 27th. The bank reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.16. Canadian Imperial Bank of Commerce had a net margin of 16.09% and a return on equity of 17.02%. The company had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.74 billion. Equities analysts forecast that Canadian Imperial Bank of Commerce will post 7.60 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 28th. Stockholders of record on Monday, September 28th were given a dividend of C$1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date was Monday, September 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 41.26%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a diversified financial institution headquartered in Toronto, Canada. It traces its roots to the Canadian Bank of Commerce, founded in 1867, and was formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada.

CIBC provides personal and business banking, commercial banking, wealth management, and capital markets services. Its offerings include deposit accounts, mortgages, lending, payment services, investment and financial advice, and financing and advisory services for businesses and institutional clients.

The bank serves individuals, businesses, and institutions across Canada and the United States, as well as clients in select international markets.