Van ECK Associates Corp Boosts Holdings in Canadian Imperial Bank of Commerce $CM

Van ECK Associates Corp boosted its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 25.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 521,017 shares of the bank’s stock after purchasing an additional 104,701 shares during the period. Van ECK Associates Corp’s holdings in Canadian Imperial Bank of Commerce were worth $41,625,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Parallel Advisors LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 3.5% in the third quarter. Parallel Advisors LLC now owns 3,404 shares of the bank’s stock worth $272,000 after buying an additional 116 shares during the last quarter. Brown Advisory Inc. lifted its holdings in Canadian Imperial Bank of Commerce by 2.6% in the second quarter. Brown Advisory Inc. now owns 6,277 shares of the bank’s stock valued at $445,000 after acquiring an additional 160 shares during the period. EverSource Wealth Advisors LLC boosted its position in Canadian Imperial Bank of Commerce by 8.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,962 shares of the bank’s stock worth $157,000 after purchasing an additional 161 shares in the last quarter. Checchi Capital Advisers LLC boosted its position in Canadian Imperial Bank of Commerce by 3.7% in the 3rd quarter. Checchi Capital Advisers LLC now owns 4,799 shares of the bank’s stock worth $383,000 after purchasing an additional 169 shares in the last quarter. Finally, Pacifica Partners Inc. grew its stake in shares of Canadian Imperial Bank of Commerce by 12.1% during the 3rd quarter. Pacifica Partners Inc. now owns 1,756 shares of the bank’s stock worth $141,000 after purchasing an additional 190 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE CM opened at $99.09 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a fifty day moving average of $95.46 and a 200 day moving average of $87.90. The firm has a market cap of $91.60 billion, a PE ratio of 14.44, a PEG ratio of 1.03 and a beta of 1.00. Canadian Imperial Bank of Commerce has a one year low of $53.62 and a one year high of $105.00.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, February 26th. The bank reported $1.99 earnings per share (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 company had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $5.53 billion. During the same period in the previous year, the firm posted $2.20 EPS. Canadian Imperial Bank of Commerce’s revenue was up 15.3% compared to the same quarter last year. As a group, research analysts predict that Canadian Imperial Bank of Commerce will post 5.5 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, April 28th. Stockholders of record on Friday, March 27th will be paid a $1.07 dividend. The ex-dividend date of this dividend is Friday, March 27th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.3%. Canadian Imperial Bank of Commerce’s payout ratio is currently 45.63%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CM. Weiss Ratings upgraded shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday. Barclays upgraded shares of Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research report on Thursday, February 19th. Zacks Research raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 4th. Finally, Raymond James Financial assumed coverage on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, November 25th. They issued a “market perform” rating for the company. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $107.50.

Canadian Imperial Bank of Commerce 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.