Deutsche Bank AG Raises Stake in Canadian Imperial Bank of Commerce $CM

Deutsche Bank AG grew its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,960,082 shares of the bank’s stock after purchasing an additional 50,982 shares during the quarter. Deutsche Bank AG owned approximately 0.43% of Canadian Imperial Bank of Commerce worth $358,823,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Larson Financial Group LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 119.7% during the third quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock valued at $32,000 after purchasing an additional 219 shares during the period. Lodestone Wealth Management LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at $37,000. Smartleaf Asset Management LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 128.1% during the third quarter. Smartleaf Asset Management LLC now owns 723 shares of the bank’s stock valued at $58,000 after purchasing an additional 406 shares during the period. Aventura Private Wealth LLC purchased a new stake in Canadian Imperial Bank of Commerce in the fourth quarter worth about $69,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in Canadian Imperial Bank of Commerce by 87.0% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock worth $69,000 after acquiring an additional 400 shares during the period. 49.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on CM. Weiss Ratings lowered shares of Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, June 4th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 28th. Raymond James Financial reaffirmed a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Barclays reaffirmed an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, June 1st. Finally, Zacks Research lowered shares of 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 stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $167.00.

Canadian Imperial Bank of Commerce Stock Performance

CM stock opened at $110.18 on Thursday. The firm has a market cap of $100.58 billion, a price-to-earnings ratio of 15.13, a PEG ratio of 1.19 and a beta of 1.02. The firm has a 50-day simple moving average of $108.17 and a two-hundred day simple moving average of $98.83. Canadian Imperial Bank of Commerce has a one year low of $67.46 and a one 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.

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

Canadian Imperial Bank of Commerce Announces Dividend

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

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.