Canadian Imperial Bank of Commerce (NYSE:CM) Shares Bought by LPL Financial LLC

Posted by Defense World Staff on Aug 24th, 2023

LPL Financial LLC raised its position in Canadian Imperial Bank of Commerce (NYSE:CM – Free Report) (TSE:CM) by 36.9% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 437,345 shares of the bank’s stock after purchasing an additional 117,841 shares during the period. LPL Financial LLC’s holdings in Canadian Imperial Bank of Commerce were worth $18,552,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vestmark Advisory Solutions Inc. purchased a new position in Canadian Imperial Bank of Commerce during the first quarter worth about $288,000. Scheer Rowlett & Associates Investment Management Ltd. lifted its position in Canadian Imperial Bank of Commerce by 8.0% during the first quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,447,671 shares of the bank’s stock worth $61,385,000 after buying an additional 107,651 shares during the period. Lantz Financial LLC purchased a new position in Canadian Imperial Bank of Commerce during the first quarter worth about $204,000. Lorne Steinberg Wealth Management Inc. lifted its position in Canadian Imperial Bank of Commerce by 16.1% during the first quarter. Lorne Steinberg Wealth Management Inc. now owns 118,722 shares of the bank’s stock worth $5,028,000 after buying an additional 16,500 shares during the period. Finally, Clear Street Markets LLC purchased a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth about $110,000. Institutional investors and hedge funds own 37.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CM. Canaccord Genuity Group upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating in a research report on Wednesday, May 10th. StockNews.com began coverage on Canadian Imperial Bank of Commerce in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, CIBC raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating in a research note on Tuesday, May 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $67.25.

Check Out Our Latest Research Report on CM

Canadian Imperial Bank of Commerce Stock Performance

NYSE CM opened at $39.59 on Thursday. The firm has a market capitalization of $36.37 billion, a P/E ratio of 10.00, a P/E/G ratio of 1.53 and a beta of 1.00. Canadian Imperial Bank of Commerce has a 1-year low of $39.11 and a 1-year high of $51.21. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.06 and a quick ratio of 1.06. The business’s 50-day simple moving average is $42.42 and its 200-day simple moving average is $42.79.

Canadian Imperial Bank of Commerce (NYSE:CM – Get Free Report) (TSE:CM) last released its quarterly earnings results on Thursday, May 25th. The bank reported $1.25 EPS for the quarter, topping the consensus estimate of $1.20 by $0.05. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $4.15 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.13% and a net margin of 11.14%. Equities analysts predict that Canadian Imperial Bank of Commerce will post 5.14 EPS for the current year.

Canadian Imperial Bank of Commerce Profile

(Free Report)

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.