Van ECK Associates Corp Has $4.05 Million Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Van ECK Associates Corp raised its stake in Canadian Imperial Bank of Commerce (NYSE:CMFree Report) (TSE:CM) by 13.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,944 shares of the bank’s stock after acquiring an additional 12,376 shares during the quarter. Van ECK Associates Corp’s holdings in Canadian Imperial Bank of Commerce were worth $4,053,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. NewEdge Advisors LLC raised its holdings in Canadian Imperial Bank of Commerce by 277.9% in the 1st quarter. NewEdge Advisors LLC now owns 1,126 shares of the bank’s stock valued at $48,000 after acquiring an additional 828 shares during the period. CENTRAL TRUST Co grew its position in shares of Canadian Imperial Bank of Commerce by 77.8% during the 3rd quarter. CENTRAL TRUST Co now owns 1,600 shares of the bank’s stock worth $70,000 after purchasing an additional 700 shares in the last quarter. CWM LLC grew its position in shares of Canadian Imperial Bank of Commerce by 72.8% during the 2nd quarter. CWM LLC now owns 2,004 shares of the bank’s stock worth $86,000 after purchasing an additional 844 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter worth approximately $106,000. Finally, First Horizon Advisors Inc. grew its position in shares of Canadian Imperial Bank of Commerce by 351.7% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,728 shares of the bank’s stock worth $116,000 after purchasing an additional 2,124 shares in the last quarter. 43.72% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CM has been the topic of a number of analyst reports. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a research report on Monday, December 18th. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday, December 8th. Finally, National Bank Financial upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, December 20th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

Check Out Our Latest Report on Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM opened at $45.56 on Tuesday. The company has a market cap of $42.45 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 1.98 and a beta of 1.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a 50 day simple moving average of $45.93 and a 200 day simple moving average of $41.55. Canadian Imperial Bank of Commerce has a one year low of $34.35 and a one year high of $48.92.

Canadian Imperial Bank of Commerce (NYSE:CMGet Free Report) (TSE:CM) last issued its quarterly earnings data on Thursday, November 30th. The bank reported $1.16 EPS for the quarter, beating the consensus estimate of $1.13 by $0.03. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $4.34 billion. Canadian Imperial Bank of Commerce had a net margin of 8.99% and a return on equity of 13.55%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.08 EPS. Research analysts predict that Canadian Imperial Bank of Commerce will post 5.24 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 29th. Stockholders of record on Thursday, December 28th were paid a dividend of $0.6623 per share. The ex-dividend date was Wednesday, December 27th. This represents a $2.65 annualized dividend and a dividend yield of 5.81%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 67.54%.

Canadian Imperial Bank of Commerce Profile

(Free Report)

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

Further Reading

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

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