Capital International Sarl Raises Position in Canadian Imperial Bank of Commerce $CM

Capital International Sarl grew its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 11.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56,614 shares of the bank’s stock after purchasing 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.

Other large investors also recently made changes to their positions in the company. CIBC Bancorp USA Inc. purchased a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter worth $11,217,000. Mackenzie Financial Corp lifted its stake in shares of Canadian Imperial Bank of Commerce by 1.1% during the 3rd quarter. Mackenzie Financial Corp now owns 6,380,638 shares of the bank’s stock worth $509,763,000 after purchasing an additional 67,738 shares during the period. Legal & General Group Plc lifted its stake in shares of Canadian Imperial Bank of Commerce by 2.0% during the 4th quarter. Legal & General Group Plc now owns 6,475,253 shares of the bank’s stock worth $587,790,000 after purchasing an additional 125,069 shares during the period. Fisher Asset Management LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 34.8% during the 3rd quarter. Fisher Asset Management LLC now owns 1,686,816 shares of the bank’s stock worth $134,760,000 after purchasing an additional 435,799 shares during the period. Finally, Intech Investment Management LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 6.5% during the 4th quarter. Intech Investment Management LLC now owns 343,828 shares of the bank’s stock worth $31,211,000 after purchasing an additional 21,078 shares during the period. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Analyst Ratings Changes

CM has been the topic of a number of recent analyst reports. Jefferies Financial Group reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 28th. Barclays restated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Monday, June 1st. Zacks Research downgraded Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Raymond James Financial restated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, May 12th. Finally, Weiss Ratings downgraded Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and a consensus price target of $167.00.

Canadian Imperial Bank of Commerce Trading Up 0.1%

CM stock opened at $108.99 on Monday. The company has a market cap of $99.49 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 1.17 and a beta of 1.02. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $107.14 and a 200-day simple moving average of $98.28. Canadian Imperial Bank of Commerce has a 52 week low of $67.46 and a 52 week high of $117.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 EPS for the quarter, topping 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 business had revenue of $5.89 billion during the quarter, compared to the consensus estimate of $5.86 billion. During the same period in the prior year, the firm posted $2.05 EPS. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. On average, equities research analysts expect that Canadian Imperial Bank of Commerce will post 7.43 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

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

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.