Quantinno Capital Management LP Increases Holdings in Canadian Imperial Bank of Commerce $CM

Quantinno Capital Management LP raised its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 15.5% in the 1st quarter, HoldingsChannel reports. The fund owned 98,277 shares of the bank’s stock after buying an additional 13,177 shares during the quarter. Quantinno Capital Management LP’s holdings in Canadian Imperial Bank of Commerce were worth $9,312,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Investment Management Corp of Ontario boosted its holdings in Canadian Imperial Bank of Commerce by 38.6% in the fourth quarter. Investment Management Corp of Ontario now owns 290,749 shares of the bank’s stock valued at $26,345,000 after purchasing an additional 80,914 shares in the last quarter. Bank of Nova Scotia increased its stake in Canadian Imperial Bank of Commerce by 0.5% in the first quarter. Bank of Nova Scotia now owns 12,683,488 shares of the bank’s stock valued at $1,201,762,000 after purchasing an additional 57,210 shares during the last quarter. Legal & General Group Plc raised its holdings in Canadian Imperial Bank of Commerce by 2.0% during the fourth 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 in the last quarter. Mediolanum International Funds Ltd raised its holdings in Canadian Imperial Bank of Commerce by 142.8% during the first quarter. Mediolanum International Funds Ltd now owns 142,455 shares of the bank’s stock worth $13,086,000 after purchasing an additional 83,784 shares in the last quarter. Finally, Intech Investment Management LLC lifted its position 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 buying an additional 21,078 shares during the last quarter. 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 $117.96 on Wednesday. The company has a market capitalization of $107.68 billion, a P/E ratio of 16.20, a PEG ratio of 1.29 and a beta of 1.01. Canadian Imperial Bank of Commerce has a twelve month low of $71.78 and a twelve month high of $122.50. The business has a 50 day simple moving average of $114.59 and a 200-day simple moving average of $105.88. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. The business had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.86 billion. During the same period last year, the firm posted $2.05 earnings per share. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 7.37 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Monday, June 29th were given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Monday, June 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 42.58%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CM shares. Weiss Ratings upgraded shares of Canadian Imperial Bank of Commerce from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday. Desjardins lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday. Zacks Research cut shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Jefferies Financial Group restated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 28th. Finally, Barclays reaffirmed an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Monday, June 1st. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $167.00.

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.