Algert Global LLC Makes New Investment in Canadian Imperial Bank of Commerce (NYSE:CM)

Algert Global LLC acquired a new stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 22,384 shares of the bank's stock, valued at approximately $1,375,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Janus Henderson Group PLC raised its stake in shares of Canadian Imperial Bank of Commerce by 4.6% during the first quarter. Janus Henderson Group PLC now owns 94,739 shares of the bank's stock valued at $4,808,000 after acquiring an additional 4,200 shares in the last quarter. Atria Investments Inc grew its position in shares of Canadian Imperial Bank of Commerce by 2.6% during the 1st quarter. Atria Investments Inc now owns 27,609 shares of the bank's stock worth $1,400,000 after buying an additional 691 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of Canadian Imperial Bank of Commerce by 59.7% during the first quarter. Cetera Investment Advisers now owns 47,872 shares of the bank's stock valued at $2,428,000 after buying an additional 17,894 shares during the period. Cetera Advisors LLC bought a new stake in shares of Canadian Imperial Bank of Commerce in the first quarter valued at about $1,278,000. Finally, Cardinal Capital Management Inc. lifted its stake in Canadian Imperial Bank of Commerce by 0.3% in the second quarter. Cardinal Capital Management Inc. now owns 2,284,747 shares of the bank's stock worth $108,569,000 after acquiring an additional 5,738 shares during the period. Hedge funds and other institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Stock Up 0.2 %

NYSE CM traded up $0.10 during trading on Friday, hitting $64.78. The company's stock had a trading volume of 263,765 shares, compared to its average volume of 1,367,334. Canadian Imperial Bank of Commerce has a fifty-two week low of $39.90 and a fifty-two week high of $65.89. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $61.19 billion, a PE ratio of 12.73, a P/E/G ratio of 1.70 and a beta of 1.06. The business's 50 day simple moving average is $62.78 and its 200-day simple moving average is $55.51.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last released its earnings results on Thursday, August 29th. The bank reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.19. Canadian Imperial Bank of Commerce had a net margin of 10.66% and a return on equity of 13.50%. The company had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the previous year, the firm earned $1.14 EPS. Canadian Imperial Bank of Commerce's revenue was up 12.9% compared to the same quarter last year. On average, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 5.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CM has been the subject of several recent research reports. Cormark upgraded shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "moderate buy" rating in a report on Friday, August 30th. Bank of America upgraded Canadian Imperial Bank of Commerce from a "neutral" rating to a "buy" rating in a report on Friday, August 30th. Desjardins upgraded Canadian Imperial Bank of Commerce from a "hold" rating to a "moderate buy" rating in a report on Friday, August 2nd. StockNews.com cut Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research note on Saturday, October 19th. Finally, BMO Capital Markets lifted their target price on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the company an "outperform" rating in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $81.00.

Canadian Imperial Bank of Commerce Profile

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.