Canadian Imperial Bank of Commerce $CM Stock Holdings Increased by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co raised its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 8.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 196,111 shares of the bank’s stock after buying an additional 15,700 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Canadian Imperial Bank of Commerce were worth $15,675,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CM. Vanguard Group Inc. lifted its stake in Canadian Imperial Bank of Commerce by 3.5% during the second quarter. Vanguard Group Inc. now owns 41,410,285 shares of the bank’s stock worth $2,939,385,000 after purchasing an additional 1,382,123 shares during the last quarter. Norges Bank acquired a new stake in shares of Canadian Imperial Bank of Commerce during the second quarter worth $730,245,000. CIBC Asset Management Inc lifted its position in shares of Canadian Imperial Bank of Commerce by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 9,910,976 shares of the bank’s stock worth $791,049,000 after buying an additional 384,414 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce by 19.7% in the 2nd quarter. Geode Capital Management LLC now owns 7,547,548 shares of the bank’s stock valued at $542,697,000 after buying an additional 1,244,271 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Canadian Imperial Bank of Commerce by 130.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,354,644 shares of the bank’s stock valued at $519,312,000 after buying an additional 4,160,060 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM opened at $95.31 on Friday. Canadian Imperial Bank of Commerce has a one year low of $53.62 and a one year high of $98.50. The stock’s fifty day moving average is $92.75 and its 200-day moving average is $84.31. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $88.31 billion, a price-to-earnings ratio of 15.65, a price-to-earnings-growth ratio of 1.30 and a beta of 1.02.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, December 4th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.08. Canadian Imperial Bank of Commerce had a net margin of 13.57% and a return on equity of 14.93%. The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.23 billion. During the same quarter in the prior year, the firm posted $1.91 EPS. Canadian Imperial Bank of Commerce’s revenue was up 14.5% compared to the same quarter last year. Equities analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 28th. Shareholders of record on Monday, December 29th were given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 4.5%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date was Monday, December 29th. Canadian Imperial Bank of Commerce’s payout ratio is currently 50.25%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CM shares. Raymond James Financial began coverage on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, November 25th. They issued a “market perform” rating on the stock. Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Monday, November 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, January 21st. Finally, Zacks Research lowered Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of “Moderate Buy” and a consensus price target of $107.50.

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.