Shell Asset Management Co. Has $2.42 Million Stock Position in Canadian Imperial Bank of Commerce $CM

Shell Asset Management Co. lessened its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 36.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,326 shares of the bank’s stock after selling 17,036 shares during the quarter. Shell Asset Management Co.’s holdings in Canadian Imperial Bank of Commerce were worth $2,424,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth approximately $730,245,000. The Manufacturers Life Insurance Company lifted its holdings in 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 purchasing an additional 4,160,060 shares during the last quarter. Public Sector Pension Investment Board boosted its position in Canadian Imperial Bank of Commerce by 51.8% during the second quarter. Public Sector Pension Investment Board now owns 7,106,008 shares of the bank’s stock worth $503,383,000 after purchasing an additional 2,425,000 shares during the period. Vanguard Group Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 3.5% in the second quarter. Vanguard Group Inc. now owns 41,410,285 shares of the bank’s stock valued at $2,939,385,000 after purchasing an additional 1,382,123 shares during the last quarter. Finally, Fisher Asset Management LLC acquired a new position in shares of Canadian Imperial Bank of Commerce in the second quarter valued at $88,610,000. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Up 0.5%

NYSE CM opened at $95.78 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.13. Canadian Imperial Bank of Commerce has a 1-year low of $53.62 and a 1-year high of $98.50. The company has a 50 day moving average of $92.84 and a 200-day moving average of $84.54. The company has a market cap of $88.75 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 1.29 and a beta of 1.02.

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

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Monday, December 29th were given a $1.07 dividend. The ex-dividend date was Monday, December 29th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.5%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 50.25%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Raymond James Financial started coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, November 25th. They set a “market perform” rating for the company. Zacks Research lowered Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, January 21st. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has an average rating of “Moderate Buy” and an average target price 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.