HighTower Advisors LLC Purchases 5,341 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

HighTower Advisors LLC lifted its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM – Get Rating) (TSE:CM) by 17.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,783 shares of the bank’s stock after buying an additional 5,341 shares during the quarter. HighTower Advisors LLC’s holdings in Canadian Imperial Bank of Commerce were worth $1,490,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Pictet Asset Management SA increased its position in shares of Canadian Imperial Bank of Commerce by 2.9% during the third quarter. Pictet Asset Management SA now owns 304,132 shares of the bank’s stock valued at $13,382,000 after buying an additional 8,598 shares during the period. Checchi Capital Advisers LLC lifted its stake in Canadian Imperial Bank of Commerce by 7.1% in the third quarter. Checchi Capital Advisers LLC now owns 4,962 shares of the bank’s stock worth $217,000 after acquiring an additional 330 shares during the period. K.J. Harrison & Partners Inc lifted its position in Canadian Imperial Bank of Commerce by 5.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 41,655 shares of the bank’s stock valued at $2,281,444,000 after buying an additional 2,041 shares during the period. Vanguard Group Inc. lifted its position in Canadian Imperial Bank of Commerce by 3.6% during the third quarter. Vanguard Group Inc. now owns 31,644,399 shares of the bank’s stock valued at $1,384,759,000 after buying an additional 1,107,934 shares during the period. Finally, Te Ahumairangi Investment Management Ltd lifted its position in Canadian Imperial Bank of Commerce by 0.8% during the fourth quarter. Te Ahumairangi Investment Management Ltd now owns 90,566 shares of the bank’s stock valued at $3,661,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 44.40% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

NYSE CM opened at $41.66 on Friday. Canadian Imperial Bank of Commerce has a 1-year low of $39.40 and a 1-year high of $56.68. The company has a market cap of $38.23 billion, a PE ratio of 10.57, a price-to-earnings-growth ratio of 1.59 and a beta of 1.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05. The stock’s 50 day simple moving average is $41.94 and its 200-day simple moving average is $43.49.

Canadian Imperial Bank of Commerce (NYSE:CM – Get Rating) (TSE:CM) last posted its earnings results on Friday, February 24th. The bank reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.21. Canadian Imperial Bank of Commerce had a return on equity of 14.51% and a net margin of 12.75%. The company had revenue of $4.40 billion during the quarter. As a group, equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CM has been the subject of several analyst reports. CIBC upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating in a report on Tuesday, May 9th. Canaccord Genuity Group raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating in a research note on Wednesday, May 10th. Royal Bank of Canada boosted their target price on Canadian Imperial Bank of Commerce from $69.00 to $70.00 and gave the company a “sector perform” rating in a research report on Monday, February 27th. Finally, StockNews.com downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $74.14.

Canadian Imperial Bank of Commerce Profile

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Canadian Imperial Bank of Commerce is a financial institution, which engages in the provision of banking and wealth management services. It operates through the following segments: Canadian Personal and Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, Capital Markets, and Corporate and Other.