Canadian Imperial Bank of Commerce $CM Shares Bought by Capital International Sarl

Capital International Sarl lifted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 11.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,614 shares of the bank’s stock after acquiring an additional 5,638 shares during the quarter. Capital International Sarl’s holdings in Canadian Imperial Bank of Commerce were worth $5,139,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 2.1% during the 4th quarter. Vanguard Group Inc. now owns 43,097,841 shares of the bank’s stock worth $3,907,078,000 after acquiring an additional 876,974 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Canadian Imperial Bank of Commerce by 1.1% during the 3rd quarter. TD Asset Management Inc now owns 22,752,807 shares of the bank’s stock worth $1,818,556,000 after acquiring an additional 249,722 shares in the last quarter. Canerector Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 11,021.0% during the 3rd quarter. Canerector Inc. now owns 22,242,000 shares of the bank’s stock worth $1,776,913,000 after acquiring an additional 22,042,000 shares in the last quarter. Cibc World Market Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 1.3% during the 4th quarter. Cibc World Market Inc. now owns 12,010,183 shares of the bank’s stock worth $1,088,243,000 after acquiring an additional 158,634 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $958,383,000. 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 $108.99 on Monday. Canadian Imperial Bank of Commerce has a 1 year low of $67.46 and a 1 year high of $117.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05. The stock’s 50 day moving average price is $107.14 and its 200 day moving average price is $98.28. The firm has a market cap of $99.49 billion, a P/E ratio of 14.97, a PEG ratio of 1.17 and a beta of 1.02.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its earnings results on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The firm had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.86 billion. During the same quarter in the prior year, the company earned $2.05 EPS. Canadian Imperial Bank of Commerce’s revenue was up 14.0% on a year-over-year basis. On average, sell-side analysts expect that Canadian Imperial Bank of Commerce will post 7.43 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Monday, June 29th will be paid a $1.07 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a yield of 3.9%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 43.13%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CM. Scotiabank lowered Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research note on Monday, June 1st. Royal Bank Of Canada boosted their price target on Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Raymond James Financial reissued a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Jefferies Financial Group reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 28th. Finally, Zacks Research lowered Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $167.00.

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.