Kingswood Wealth Advisors LLC Buys Shares of 7,422 Canadian Imperial Bank of Commerce $CM

Kingswood Wealth Advisors LLC acquired a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 7,422 shares of the bank’s stock, valued at approximately $593,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its holdings in Canadian Imperial Bank of Commerce by 5.1% during the 2nd quarter. Parallel Advisors LLC now owns 3,288 shares of the bank’s stock worth $233,000 after purchasing an additional 160 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Canadian Imperial Bank of Commerce by 2.6% during the second quarter. Brown Advisory Inc. now owns 6,277 shares of the bank’s stock valued at $445,000 after buying an additional 160 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 0.3% in the second quarter. Janney Montgomery Scott LLC now owns 53,477 shares of the bank’s stock worth $3,788,000 after buying an additional 173 shares in the last quarter. Pacifica Partners Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 12.1% in the third quarter. Pacifica Partners Inc. now owns 1,756 shares of the bank’s stock worth $141,000 after buying an additional 190 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Canadian Imperial Bank of Commerce by 12.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,801 shares of the bank’s stock valued at $128,000 after acquiring an additional 193 shares during the period. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Down 1.0%

NYSE CM opened at $90.74 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. The stock’s 50-day simple moving average is $88.79 and its two-hundred day simple moving average is $80.82. Canadian Imperial Bank of Commerce has a twelve month low of $53.62 and a twelve month high of $94.16. The company has a market capitalization of $84.28 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.24 and a beta of 1.02.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, December 4th. The bank reported $1.57 EPS for the quarter, beating the consensus estimate of $1.49 by $0.08. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.23 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.93% and a net margin of 13.57%.The company’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.91 EPS. Research analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Monday, December 29th will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Monday, December 29th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 50.25%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CM. Zacks Research upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 31st. Raymond James Financial began coverage on Canadian Imperial Bank of Commerce in a research report on Tuesday, November 25th. They issued a “market perform” rating on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of “Moderate Buy” and a consensus target price of $107.50.

About Canadian Imperial Bank of Commerce

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.