PBU The Pension Fund of Early Childhood & Youth Educators Acquires New Holdings in Canadian Imperial Bank of Commerce $CM

PBU The Pension Fund of Early Childhood & Youth Educators acquired a new stake in Canadian Imperial Bank of Commerce (NYSE:CMFree Report) (TSE:CM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 23,346 shares of the bank’s stock, valued at approximately $2,115,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CM. Larson Financial Group LLC grew its holdings 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 during the last quarter. Lodestone Wealth Management LLC acquired a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at approximately $37,000. Smartleaf Asset Management LLC grew its holdings in Canadian Imperial Bank of Commerce by 128.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 723 shares of the bank’s stock valued at $58,000 after buying an additional 406 shares during the last quarter. Aventura Private Wealth LLC acquired a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at approximately $69,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in Canadian Imperial Bank of Commerce by 87.0% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock valued at $69,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM opened at $108.99 on Friday. Canadian Imperial Bank of Commerce has a 1-year low of $67.46 and a 1-year high of $117.05. The firm has a market capitalization of $99.49 billion, a PE ratio of 14.97, a PEG ratio of 1.17 and a beta of 1.02. The business’s 50 day moving average is $107.14 and its 200-day moving average is $98.20. 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:CMGet Free Report) (TSE:CM) last announced its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The company had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.86 billion. During the same quarter last year, the firm earned $2.05 EPS. Canadian Imperial Bank of Commerce’s revenue for the quarter was up 14.0% compared to the same quarter last year. Sell-side analysts predict that Canadian Imperial Bank of Commerce will post 7.43 earnings per share for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Monday, June 29th will be paid a $1.07 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $4.28 annualized dividend and a yield of 3.9%. Canadian Imperial Bank of Commerce’s payout ratio is currently 43.13%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CM. Barclays reissued an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Monday, June 1st. Weiss Ratings raised shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, May 22nd. Zacks Research downgraded shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Royal Bank Of Canada lifted their price objective on Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Finally, Scotiabank lowered Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $167.00.

Read Our Latest Stock Report on CM

Canadian Imperial Bank of Commerce Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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