Janus Henderson Group PLC Increases Stock Holdings in Canadian Imperial Bank of Commerce $CM

Janus Henderson Group PLC lifted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 9.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 214,595 shares of the bank’s stock after purchasing an additional 18,625 shares during the period. Janus Henderson Group PLC’s holdings in Canadian Imperial Bank of Commerce were worth $20,303,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also 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 3rd quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock valued at $32,000 after buying an additional 219 shares during the last quarter. EFG International AG bought a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth $35,000. Global Assets Advisory LLC bought a new stake in shares of Canadian Imperial Bank of Commerce in the first quarter worth $54,000. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings 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 valued at $69,000 after acquiring an additional 400 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in Canadian Imperial Bank of Commerce by 2,758.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 829 shares of the bank’s stock valued at $75,000 after acquiring an additional 800 shares in the last quarter. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on CM. Royal Bank Of Canada increased their price target on shares of Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Weiss Ratings upgraded Canadian Imperial Bank of Commerce from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday. Jefferies Financial Group reaffirmed a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 28th. Raymond James Financial reiterated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, May 12th. Finally, Zacks Research downgraded Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and an average target price of $167.00.

Canadian Imperial Bank of Commerce Trading Up 0.6%

Canadian Imperial Bank of Commerce stock opened at $119.27 on Tuesday. 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 firm has a 50-day moving average price of $114.54 and a two-hundred day moving average price of $105.69. The firm has a market capitalization of $108.87 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 1.28 and a beta of 1.01. Canadian Imperial Bank of Commerce has a 52-week low of $71.78 and a 52-week high of $122.50.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.08. The company had revenue of $5.89 billion during the quarter, compared to analysts’ expectations of $5.86 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.05 earnings per share. Sell-side analysts expect that Canadian Imperial Bank of Commerce will post 7.37 earnings per share for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 28th. Investors of record on Monday, June 29th were issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, June 29th. Canadian Imperial Bank of Commerce’s payout ratio is presently 42.58%.

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.