Vise Technologies Inc. Purchases New Shares in Canadian Imperial Bank of Commerce $CM

Vise Technologies Inc. purchased a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 31,841 shares of the bank’s stock, valued at approximately $3,662,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Bell Investment Advisors Inc acquired a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter valued at about $36,000. EFG International AG acquired a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $35,000. Larson Financial Group LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 119.7% during the third quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock worth $32,000 after purchasing an additional 219 shares in the last quarter. Global Assets Advisory LLC bought a new stake in shares of Canadian Imperial Bank of Commerce during the first quarter valued at approximately $54,000. Finally, Parkside Financial Bank & Trust grew its stake in shares of Canadian Imperial Bank of Commerce by 2,758.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 829 shares of the bank’s stock valued at $75,000 after purchasing an additional 800 shares during the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Down 1.7%

CM opened at $115.78 on Friday. 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 has a market cap of $105.69 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 1.28 and a beta of 1.01. The firm has a 50 day simple moving average of $117.07 and a 200 day simple moving average of $108.21. Canadian Imperial Bank of Commerce has a fifty-two week low of $72.57 and a fifty-two week high of $124.86.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. The firm had revenue of $5.89 billion for the quarter, compared to analysts’ expectations of $5.86 billion. During the same period last year, the firm earned $2.05 earnings per share. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. On average, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 7.33 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 28th. Stockholders of record on Monday, June 29th were paid a $1.07 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.7%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 42.58%.

Analyst Ratings Changes

A number of analysts recently weighed in on CM shares. Desjardins lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Tuesday, August 4th. Scotiabank reiterated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, June 16th. Zacks Research cut Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Barclays restated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research report on Monday, June 1st. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $167.00.

Canadian Imperial Bank of Commerce Profile

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.