Capital International Investors Has $376.77 Million Stake in Canadian Imperial Bank of Commerce $CM

Capital International Investors boosted its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 0.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,155,990 shares of the bank’s stock after buying an additional 17,507 shares during the period. Capital International Investors’ holdings in Canadian Imperial Bank of Commerce were worth $376,766,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC boosted its stake in Canadian Imperial Bank of Commerce by 119.7% in 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 in the last quarter. Lodestone Wealth Management LLC acquired a new position in Canadian Imperial Bank of Commerce in the fourth quarter worth $37,000. Smartleaf Asset Management LLC boosted its stake in Canadian Imperial Bank of Commerce by 128.1% in the third quarter. Smartleaf Asset Management LLC now owns 723 shares of the bank’s stock worth $58,000 after purchasing an additional 406 shares in the last quarter. Aventura Private Wealth LLC acquired a new position in Canadian Imperial Bank of Commerce in the fourth quarter worth $69,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake 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 worth $69,000 after purchasing an additional 400 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Analyst Ratings Changes

CM has been the topic of a number of recent analyst reports. Scotiabank lowered Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research note on Monday, June 1st. Barclays reissued an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, June 1st. Royal Bank Of Canada boosted their price objective on Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Weiss Ratings lowered Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday. Finally, Jefferies Financial Group reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 28th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $167.00.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock opened at $108.99 on Monday. The firm has a market cap of $99.49 billion, a P/E ratio of 14.97, a P/E/G ratio of 1.17 and a beta of 1.02. Canadian Imperial Bank of Commerce has a 52 week low of $67.46 and a 52 week high of $117.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05. The business’s fifty day moving average is $107.14 and its two-hundred day moving average is $98.28.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Thursday, May 28th. The bank reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.08. The company had revenue of $5.89 billion during the quarter, compared to the consensus estimate 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 firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.05 earnings per share. Equities research analysts forecast that Canadian Imperial Bank of Commerce will post 7.43 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Monday, June 29th will be given a dividend of $1.07 per share. The ex-dividend date is Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.9%. Canadian Imperial Bank of Commerce’s payout ratio is presently 43.13%.

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.