Canadian Imperial Bank of Commerce $CM Shares Acquired by Axa S.A.

Axa S.A. raised its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 46.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 913,458 shares of the bank’s stock after buying an additional 289,718 shares during the period. Axa S.A.’s holdings in Canadian Imperial Bank of Commerce were worth $64,700,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Truvestments Capital LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the first quarter valued at approximately $32,000. Ameritas Advisory Services LLC bought a new position in Canadian Imperial Bank of Commerce during the 2nd quarter valued at $34,000. Atlantic Union Bankshares Corp acquired a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at $35,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Canadian Imperial Bank of Commerce in the 2nd quarter worth $43,000. Finally, MAI Capital Management lifted its holdings in shares of Canadian Imperial Bank of Commerce by 57.5% in the second quarter. MAI Capital Management now owns 737 shares of the bank’s stock valued at $52,000 after buying an additional 269 shares during the period. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM opened at $90.51 on Wednesday. The company’s fifty day moving average is $83.86 and its two-hundred day moving average is $77.08. The company has a market cap of $84.06 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02. Canadian Imperial Bank of Commerce has a 12-month low of $53.62 and a 12-month high of $91.57. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.13.

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

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 28th. Shareholders of record on Monday, December 29th will be paid a dividend of $1.07 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date of this dividend is Monday, December 29th. This represents a $4.28 annualized dividend and a yield of 4.7%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 46.31%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Raymond James Financial assumed coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, November 25th. They set a “market perform” rating on the stock. Royal Bank Of Canada lifted their price objective on shares of Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Wall Street Zen upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $107.50.

Canadian Imperial Bank of Commerce Company 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.