Metis Global Partners LLC Grows Position in Canadian Imperial Bank of Commerce $CM

Metis Global Partners LLC grew its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 9.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,114 shares of the bank’s stock after acquiring an additional 4,412 shares during the quarter. Metis Global Partners LLC’s holdings in Canadian Imperial Bank of Commerce were worth $3,770,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in Canadian Imperial Bank of Commerce by 1.6% in the first quarter. Vanguard Group Inc. now owns 40,028,162 shares of the bank’s stock valued at $2,251,664,000 after purchasing an additional 642,924 shares in the last quarter. Bank of Nova Scotia increased its holdings in shares of Canadian Imperial Bank of Commerce by 4.5% in the 1st quarter. Bank of Nova Scotia now owns 17,967,436 shares of the bank’s stock worth $1,010,849,000 after buying an additional 773,174 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Canadian Imperial Bank of Commerce by 31.6% during the 1st quarter. JPMorgan Chase & Co. now owns 10,581,914 shares of the bank’s stock valued at $595,762,000 after buying an additional 2,538,808 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Canadian Imperial Bank of Commerce by 23.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 6,055,999 shares of the bank’s stock worth $340,721,000 after acquiring an additional 1,133,715 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Canadian Imperial Bank of Commerce by 405.5% in the first quarter. Goldman Sachs Group Inc. now owns 5,187,068 shares of the bank’s stock worth $292,032,000 after acquiring an additional 4,160,938 shares in the last quarter. 49.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CM shares. Weiss Ratings restated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, October 8th. Wall Street Zen raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Finally, Royal Bank Of Canada boosted their target price on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average price target of $107.50.

Canadian Imperial Bank of Commerce Stock Up 0.7%

CM opened at $84.72 on Friday. Canadian Imperial Bank of Commerce has a 12 month low of $53.62 and a 12 month high of $84.75. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $80.80 and its 200-day moving average price is $73.55. The company has a market cap of $78.68 billion, a P/E ratio of 14.31, a P/E/G ratio of 1.76 and a beta of 1.03.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, August 28th. The bank reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.12 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.67% and a net margin of 12.94%.The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.93 EPS. On average, equities analysts expect that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 28th. Shareholders of record on Monday, September 29th were given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Monday, September 29th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 47.64%.

About Canadian Imperial Bank of Commerce

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.