Sienna Gestion Increases Stake in Canadian Imperial Bank of Commerce $CM

Sienna Gestion grew its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 10.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 319,121 shares of the bank’s stock after buying an additional 30,000 shares during the quarter. Canadian Imperial Bank of Commerce makes up 1.4% of Sienna Gestion’s holdings, making the stock its 10th biggest holding. Sienna Gestion’s holdings in Canadian Imperial Bank of Commerce were worth $20,641,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TruNorth Capital Management LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 156.0% during the first quarter. TruNorth Capital Management LLC now owns 512 shares of the bank’s stock worth $29,000 after buying an additional 312 shares during the last quarter. Truvestments Capital LLC bought a new stake in Canadian Imperial Bank of Commerce during the 1st quarter worth $32,000. Ameritas Advisory Services LLC bought a new stake in Canadian Imperial Bank of Commerce during the 2nd quarter worth $34,000. Atlantic Union Bankshares Corp bought a new stake in Canadian Imperial Bank of Commerce during the 2nd quarter worth $35,000. Finally, Private Trust Co. NA grew its position in Canadian Imperial Bank of Commerce by 40.0% during the 1st quarter. Private Trust Co. NA now owns 781 shares of the bank’s stock worth $44,000 after acquiring an additional 223 shares during the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM stock opened at $83.31 on Thursday. The business’s 50 day simple moving average is $80.51 and its 200 day simple moving average is $73.20. Canadian Imperial Bank of Commerce has a one year low of $53.62 and a one year high of $84.01. The stock has a market capitalization of $77.38 billion, a PE ratio of 14.07, a PEG ratio of 1.76 and a beta of 1.03. 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 (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, August 28th. The bank reported $1.57 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $5.12 billion. During the same period in the prior year, the firm posted $1.93 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, research analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 28th. Shareholders of record on Monday, September 29th were given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 4.7%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Monday, September 29th. Canadian Imperial Bank of Commerce’s payout ratio is currently 47.64%.

Analyst Ratings Changes

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