Waratah Capital Advisors Ltd. Has $8.93 Million Stock Holdings in Canadian Imperial Bank of Commerce $CM

Waratah Capital Advisors Ltd. lifted its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 347.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,809 shares of the bank’s stock after buying an additional 86,809 shares during the quarter. Waratah Capital Advisors Ltd.’s holdings in Canadian Imperial Bank of Commerce were worth $8,932,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Salem Investment Counselors Inc. bought a new stake in Canadian Imperial Bank of Commerce during the third quarter valued at about $30,000. Toth Financial Advisory Corp acquired a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter worth about $32,000. AdvisorNet Financial Inc grew its holdings in Canadian Imperial Bank of Commerce by 300.0% in the 3rd quarter. AdvisorNet Financial Inc now owns 400 shares of the bank’s stock valued at $32,000 after buying an additional 300 shares during the last quarter. Grey Fox Wealth Advisors LLC bought a new position in Canadian Imperial Bank of Commerce in the 3rd quarter worth approximately $34,000. Finally, Guerra Advisors Inc acquired a new position in shares of Canadian Imperial Bank of Commerce during the third quarter worth approximately $35,000. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock opened at $98.19 on Wednesday. The firm has a market cap of $90.98 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 1.29 and a beta of 1.02. The firm’s 50-day simple moving average is $93.63 and its 200-day simple moving average is $85.90. Canadian Imperial Bank of Commerce has a twelve month low of $53.62 and a twelve month high of $100.39. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.04 and a current ratio of 1.04.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, December 4th. The bank reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.08. Canadian Imperial Bank of Commerce had a net margin of 13.57% and a return on equity of 14.93%. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.23 billion. During the same quarter last year, the company earned $1.91 earnings per share. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. As a group, research analysts expect that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Monday, December 29th were given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 4.4%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date was Monday, December 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 50.25%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CM. Barclays raised shares of Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research report on Thursday, February 19th. Raymond James Financial began coverage on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, November 25th. They issued a “market perform” rating on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, January 21st. Zacks Research cut shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. 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. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of “Moderate Buy” and a consensus price target 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.