Orion Portfolio Solutions LLC Purchases 6,888 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Orion Portfolio Solutions LLC boosted its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 76.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,935 shares of the bank’s stock after purchasing an additional 6,888 shares during the period. Orion Portfolio Solutions LLC’s holdings in Canadian Imperial Bank of Commerce were worth $977,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV lifted its stake in shares of Canadian Imperial Bank of Commerce by 23.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock worth $56,000 after buying an additional 171 shares in the last quarter. PDS Planning Inc grew its stake in shares of Canadian Imperial Bank of Commerce by 4.7% during the 3rd quarter. PDS Planning Inc now owns 4,978 shares of the bank’s stock valued at $305,000 after acquiring an additional 224 shares during the period. Prospera Private Wealth LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 3.2% in the third quarter. Prospera Private Wealth LLC now owns 10,486 shares of the bank’s stock valued at $643,000 after acquiring an additional 330 shares in the last quarter. First Bank & Trust lifted its holdings in Canadian Imperial Bank of Commerce by 0.8% in the 3rd quarter. First Bank & Trust now owns 41,646 shares of the bank’s stock worth $2,555,000 after purchasing an additional 351 shares in the last quarter. Finally, Lantz Financial LLC boosted its position in shares of Canadian Imperial Bank of Commerce by 7.1% during the second quarter. Lantz Financial LLC now owns 5,824 shares of the bank’s stock worth $277,000 after acquiring an additional 385 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Trading Down 0.2 %

Shares of CM stock opened at $66.15 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The business has a fifty day simple moving average of $63.69 and a 200-day simple moving average of $56.81. The stock has a market cap of $62.48 billion, a P/E ratio of 12.36, a P/E/G ratio of 1.78 and a beta of 1.06. Canadian Imperial Bank of Commerce has a fifty-two week low of $43.86 and a fifty-two week high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be given a dividend of $0.6912 per share. This represents a $2.76 dividend on an annualized basis and a yield of 4.18%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date is Friday, December 27th. Canadian Imperial Bank of Commerce’s payout ratio is 53.46%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CM shares. Cormark raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 30th. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Bank of America raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research report on Friday, August 30th. BMO Capital Markets increased their price target on shares of Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $97.00 price objective (up from $74.00) on shares of Canadian Imperial Bank of Commerce in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.00.

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.