Raymond James Financial Services Advisors Inc. Buys 563 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Raymond James Financial Services Advisors Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 8.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,270 shares of the bank’s stock after acquiring an additional 563 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $808,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Natixis Advisors L.P. boosted its stake in shares of Canadian Imperial Bank of Commerce by 6.6% in the 2nd quarter. Natixis Advisors L.P. now owns 18,725 shares of the bank’s stock valued at $2,132,000 after purchasing an additional 1,153 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Canadian Imperial Bank of Commerce by 3.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,089,237 shares of the bank’s stock valued at $237,881,000 after purchasing an additional 67,502 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 9.1% in the 2nd quarter. Advisory Services Network LLC now owns 11,278 shares of the bank’s stock valued at $1,284,000 after purchasing an additional 945 shares during the last quarter. Gateway Advisory LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at about $270,000. Finally, Invesco Ltd. boosted its stake in shares of Canadian Imperial Bank of Commerce by 13.8% in the 2nd quarter. Invesco Ltd. now owns 705,271 shares of the bank’s stock valued at $80,302,000 after purchasing an additional 85,548 shares during the last quarter. 44.67% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CM stock opened at $131.59 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market capitalization of $59.34 billion, a P/E ratio of 11.88, a price-to-earnings-growth ratio of 2.98 and a beta of 1.12. The company’s 50 day moving average price is $116.68 and its two-hundred day moving average price is $116.35. Canadian Imperial Bank of Commerce has a 52 week low of $84.65 and a 52 week high of $131.75.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, December 2nd. The bank reported $3.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.80 by $0.57. Canadian Imperial Bank of Commerce had a net margin of 27.61% and a return on equity of 16.57%. The company had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same period last year, the company earned $2.79 earnings per share. The firm’s revenue was up 10.1% compared to the same quarter last year. Analysts forecast that Canadian Imperial Bank of Commerce will post 11.28 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 28th. Stockholders of record on Wednesday, December 29th will be issued a $1.26 dividend. The ex-dividend date of this dividend is Tuesday, December 28th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.16. This represents a $5.04 dividend on an annualized basis and a dividend yield of 3.83%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 45.49%.

Several research analysts have recently issued reports on the stock. reduced their target price on shares of Canadian Imperial Bank of Commerce from $163.00 to $161.00 and set a “buy” rating on the stock in a research note on Friday, December 3rd. Royal Bank of Canada increased their price target on shares of Canadian Imperial Bank of Commerce from $158.00 to $169.00 and gave the company an “outperform” rating in a research report on Friday, December 3rd. CIBC cut their price target on shares of Canadian Imperial Bank of Commerce from C$168.00 to C$165.00 and set an “outperform” rating on the stock in a research report on Friday, December 3rd. Finally, Zacks Investment Research upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a research report on Monday, December 6th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has an average rating of “Buy” and an average target price of $157.70.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce is a financial institution, which engages in the provision of banking and wealth management services. It operates through the following segments: Canadian Personal and Small Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, Capital Markets, and Corporate and Other.

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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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