Canadian Imperial Bank of Commerce $CM is Canerector Inc.’s 7th Largest Position

Canerector Inc. grew its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 11,021.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,242,000 shares of the bank’s stock after acquiring an additional 22,042,000 shares during the quarter. Canadian Imperial Bank of Commerce comprises approximately 3.5% of Canerector Inc.’s portfolio, making the stock its 7th biggest holding. Canerector Inc. owned approximately 2.39% of Canadian Imperial Bank of Commerce worth $1,776,913,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. American Century Companies Inc. grew its holdings in Canadian Imperial Bank of Commerce by 10.8% in the 2nd quarter. American Century Companies Inc. now owns 348,986 shares of the bank’s stock valued at $24,772,000 after buying an additional 33,908 shares during the period. Legal & General Group Plc lifted its holdings in shares of Canadian Imperial Bank of Commerce by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 6,183,439 shares of the bank’s stock worth $438,056,000 after acquiring an additional 262,675 shares during the period. Westerkirk Capital Inc. acquired a new stake in shares of Canadian Imperial Bank of Commerce in the second quarter worth approximately $3,379,000. AGF Management Ltd. grew its holdings in Canadian Imperial Bank of Commerce by 15.2% in the second quarter. AGF Management Ltd. now owns 881,521 shares of the bank’s stock valued at $62,908,000 after purchasing an additional 116,190 shares during the period. Finally, Cumberland Partners Ltd increased its position in Canadian Imperial Bank of Commerce by 50.0% during the second quarter. Cumberland Partners Ltd now owns 14,407 shares of the bank’s stock worth $1,021,000 after purchasing an additional 4,800 shares during the last quarter. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at $100.40 on Wednesday. The firm has a market cap of $92.81 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 1.05 and a beta of 1.00. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. Canadian Imperial Bank of Commerce has a 1 year low of $53.62 and a 1 year high of $105.00. The stock has a 50-day simple moving average of $94.55 and a 200-day simple moving average of $86.89.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, February 26th. The bank reported $1.99 EPS for the quarter, topping the consensus estimate of $1.74 by $0.25. Canadian Imperial Bank of Commerce had a return on equity of 15.20% and a net margin of 15.15%.The firm had revenue of $6.16 billion for the quarter, compared to analyst estimates of $5.53 billion. During the same period in the previous year, the company posted $2.20 EPS. Canadian Imperial Bank of Commerce’s revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities analysts predict that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Friday, March 27th will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 44.61%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CM. Zacks Research cut shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Barclays raised Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research report on Thursday, February 19th. Weiss Ratings restated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, January 21st. Finally, Raymond James Financial assumed coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, November 25th. They set a “market perform” rating for the company. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

About Canadian Imperial Bank of Commerce

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.