Octavia Wealth Advisors LLC Has $922,000 Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

by · The Markets Daily

Octavia Wealth Advisors LLC lessened its position in Canadian Imperial Bank of Commerce (NYSE:CM – Free Report) (TSE:CM) by 36.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 14,866 shares of the bank’s stock after selling 8,518 shares during the period. Octavia Wealth Advisors LLC’s holdings in Canadian Imperial Bank of Commerce were worth $922,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Atomi Financial Group Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 41.7% during the 3rd quarter. Atomi Financial Group Inc. now owns 7,879 shares of the bank’s stock valued at $483,000 after purchasing an additional 2,318 shares during the period. Park Avenue Securities LLC raised its stake in shares of Canadian Imperial Bank of Commerce by 43.5% during the 3rd quarter. Park Avenue Securities LLC now owns 8,625 shares of the bank’s stock valued at $529,000 after purchasing an additional 2,615 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in shares of Canadian Imperial Bank of Commerce by 23.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock valued at $56,000 after purchasing an additional 171 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at $326,000. Finally, Creative Planning grew its position in Canadian Imperial Bank of Commerce by 16.4% during the second quarter. Creative Planning now owns 59,822 shares of the bank’s stock worth $2,844,000 after buying an additional 8,426 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CM. Desjardins upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 2nd. Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research report on Friday, August 30th. UBS Group began coverage on Canadian Imperial Bank of Commerce in a research report on Tuesday, July 2nd. They set a “neutral” rating for the company. StockNews.com cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Cormark upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 30th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $81.00.

View Our Latest Stock Report on Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce Trading Up 2.3 %

Shares of CM stock opened at $60.96 on Friday. The stock has a market capitalization of $57.58 billion, a PE ratio of 11.98, a P/E/G ratio of 1.82 and a beta of 1.07. Canadian Imperial Bank of Commerce has a 1-year low of $34.35 and a 1-year high of $62.67. The business has a 50-day moving average of $57.47 and a 200 day moving average of $51.86. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM – Get Free Report) (TSE:CM) last announced its earnings results on Thursday, August 29th. The bank reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.19. Canadian Imperial Bank of Commerce had a return on equity of 13.50% and a net margin of 10.66%. The firm had revenue of $6.60 billion during the quarter, compared to analyst estimates of $6.28 billion. During the same quarter in the prior year, the company earned $1.14 EPS. The business’s revenue was up 12.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 5.36 earnings per share for the current year.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be given a dividend of $0.652 per share. This represents a $2.61 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date is Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 52.46%.

Canadian Imperial Bank of Commerce Company 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.

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