NewSquare Capital LLC Buys 3,205 Shares of Canadian Imperial Bank of Commerce $CM

NewSquare Capital LLC increased its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,357 shares of the bank’s stock after buying an additional 3,205 shares during the quarter. NewSquare Capital LLC’s holdings in Canadian Imperial Bank of Commerce were worth $6,967,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 1.6% in the first quarter. Vanguard Group Inc. now owns 40,028,162 shares of the bank’s stock valued at $2,251,664,000 after acquiring an additional 642,924 shares during the period. Bank of Nova Scotia raised its stake in shares of Canadian Imperial Bank of Commerce by 4.5% in the first quarter. Bank of Nova Scotia now owns 17,967,436 shares of the bank’s stock valued at $1,010,849,000 after acquiring an additional 773,174 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Canadian Imperial Bank of Commerce by 31.6% in the first quarter. JPMorgan Chase & Co. now owns 10,581,914 shares of the bank’s stock valued at $595,762,000 after acquiring an additional 2,538,808 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of Canadian Imperial Bank of Commerce by 23.0% in the first quarter. Canada Pension Plan Investment Board now owns 6,055,999 shares of the bank’s stock valued at $340,721,000 after acquiring an additional 1,133,715 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 405.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,187,068 shares of the bank’s stock valued at $292,032,000 after acquiring an additional 4,160,938 shares during the period. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Stock Up 1.2%

Shares of Canadian Imperial Bank of Commerce stock opened at $83.84 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.04 and a quick ratio of 1.04. Canadian Imperial Bank of Commerce has a 1 year low of $53.62 and a 1 year high of $84.01. The firm’s 50-day moving average is $80.15 and its two-hundred day moving average is $72.96. The stock has a market cap of $77.87 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 1.76 and a beta of 1.03.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, August 28th. The bank reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. Canadian Imperial Bank of Commerce had a net margin of 12.94% and a return on equity of 14.67%. The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.12 billion. During the same period in the prior year, the business earned $1.93 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, research analysts expect that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 28th. Shareholders of record on Monday, September 29th were issued a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 4.6%. The ex-dividend date was Monday, September 29th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 47.64%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CM shares. Weiss Ratings reissued a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, October 8th. Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Monday. Finally, Royal Bank Of Canada lifted their target price on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

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.