SEB Asset Management AB purchased a new position in Canadian Imperial Bank of Commerce (NYSE:CM – Free Report) (TSE:CM) in the 1st quarter, HoldingsChannel reports. The firm purchased 244,750 shares of the bank’s stock, valued at approximately $23,122,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CM. EFG International AG purchased a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth approximately $35,000. Larson Financial Group LLC raised its holdings in Canadian Imperial Bank of Commerce by 119.7% during 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 period. Lodestone Wealth Management LLC bought a new stake in Canadian Imperial Bank of Commerce in the fourth quarter worth $37,000. Global Assets Advisory LLC bought a new stake in Canadian Imperial Bank of Commerce in the first quarter worth $54,000. Finally, Aventura Private Wealth LLC purchased a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth $69,000. 49.88% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have weighed in on CM. Royal Bank Of Canada boosted their price objective on shares of Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Zacks Research lowered shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Scotiabank reiterated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, June 16th. Jefferies Financial Group reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 28th. Finally, Weiss Ratings downgraded shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (b)” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $167.00.
Canadian Imperial Bank of Commerce Trading Up 0.0%
NYSE:CM opened at $121.26 on Monday. 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 firm has a 50-day simple moving average of $113.41 and a 200-day simple moving average of $103.64. Canadian Imperial Bank of Commerce has a one year low of $71.00 and a one year high of $122.50. The firm has a market cap of $110.69 billion, a P/E ratio of 16.66, a P/E/G ratio of 1.31 and a beta of 1.02.
Canadian Imperial Bank of Commerce (NYSE:CM – Get Free Report) (TSE:CM) last issued its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.08. The company had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.86 billion. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. Canadian Imperial Bank of Commerce’s revenue was up 14.0% compared to the same quarter last year. During the same period last year, the company posted $2.05 earnings per share. Equities analysts anticipate that Canadian Imperial Bank of Commerce will post 7.37 EPS for the current fiscal year.
Canadian Imperial Bank of Commerce Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Monday, June 29th will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, June 29th. Canadian Imperial Bank of Commerce’s payout ratio is presently 42.58%.
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.
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