Algert Global LLC Takes $1.38 Million Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Algert Global LLC bought a new stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 22,384 shares of the bank’s stock, valued at approximately $1,375,000.

Several other large investors have also recently modified their holdings of the stock. Toronto Dominion Bank increased its position in shares of Canadian Imperial Bank of Commerce by 17.9% during the 2nd quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank’s stock valued at $1,233,272,000 after purchasing an additional 3,942,894 shares during the last quarter. Cibc World Market Inc. grew its position in Canadian Imperial Bank of Commerce by 18.9% in the 2nd quarter. Cibc World Market Inc. now owns 19,748,305 shares of the bank’s stock valued at $938,834,000 after acquiring an additional 3,143,734 shares during the last quarter. National Bank of Canada FI grew its position in Canadian Imperial Bank of Commerce by 26.8% in the 2nd quarter. National Bank of Canada FI now owns 18,340,869 shares of the bank’s stock valued at $867,377,000 after acquiring an additional 3,875,280 shares during the last quarter. CIBC Asset Management Inc grew its position in Canadian Imperial Bank of Commerce by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank’s stock valued at $696,659,000 after acquiring an additional 375,837 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in Canadian Imperial Bank of Commerce by 14.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,641,498 shares of the bank’s stock valued at $652,676,000 after acquiring an additional 1,305,665 shares during the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

CM opened at $64.68 on Friday. Canadian Imperial Bank of Commerce has a 12-month low of $37.97 and a 12-month high of $65.89. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The business’s fifty day simple moving average is $62.72 and its 200-day simple moving average is $55.40. The company has a market capitalization of $61.10 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 1.71 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings results on Thursday, August 29th. The bank reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.19. The business had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.28 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.50% and a net margin of 10.66%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.14 EPS. On average, equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

CM has been the topic of several research analyst reports. StockNews.com downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Desjardins raised Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 2nd. Cormark raised Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 30th. Bank of America raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research report on Friday, August 30th. Finally, BMO Capital Markets increased their price target on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and a consensus price target of $81.00.

About Canadian Imperial Bank of Commerce

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.