Baader Bank Aktiengesellschaft Purchases Shares of 5,641 Canadian Imperial Bank of Commerce $CM

Baader Bank Aktiengesellschaft acquired a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 5,641 shares of the bank’s stock, valued at approximately $449,000.

A number of other institutional investors have also made changes to their positions in CM. Vanguard Group Inc. lifted its position in Canadian Imperial Bank of Commerce by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 41,410,285 shares of the bank’s stock worth $2,939,385,000 after buying an additional 1,382,123 shares in the last quarter. Norges Bank acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 2nd quarter valued at approximately $730,245,000. CIBC Asset Management Inc increased its holdings in Canadian Imperial Bank of Commerce by 4.0% during the third quarter. CIBC Asset Management Inc now owns 9,910,976 shares of the bank’s stock worth $791,049,000 after buying an additional 384,414 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Canadian Imperial Bank of Commerce by 19.7% in the 2nd quarter. Geode Capital Management LLC now owns 7,547,548 shares of the bank’s stock valued at $542,697,000 after acquiring an additional 1,244,271 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Canadian Imperial Bank of Commerce by 130.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,354,644 shares of the bank’s stock valued at $519,312,000 after purchasing an additional 4,160,060 shares during the period. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

NYSE CM opened at $95.31 on Friday. The firm’s 50 day simple moving average is $92.75 and its 200 day simple moving average is $84.31. The firm has a market capitalization of $88.31 billion, a price-to-earnings ratio of 15.65, a P/E/G ratio of 1.30 and a beta of 1.02. Canadian Imperial Bank of Commerce has a 1 year low of $53.62 and a 1 year high of $98.50. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.13.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings results on Thursday, December 4th. The bank reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.08. Canadian Imperial Bank of Commerce had a return on equity of 14.93% and a net margin of 13.57%.The company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.23 billion. During the same quarter in the previous year, the firm earned $1.91 EPS. Canadian Imperial Bank of Commerce’s revenue was up 14.5% on a year-over-year basis. As a group, research 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 business also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Monday, December 29th were given a $1.07 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. This represents a $4.28 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Monday, December 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 50.25%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Zacks Research cut Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, January 21st. Finally, Raymond James Financial started coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, November 25th. They set a “market perform” rating for the company. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $107.50.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.