Legal & General Group Plc Buys 125,069 Shares of Canadian Imperial Bank of Commerce $CM

Legal & General Group Plc boosted its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,475,253 shares of the bank’s stock after purchasing an additional 125,069 shares during the quarter. Legal & General Group Plc’s holdings in Canadian Imperial Bank of Commerce were worth $587,790,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Sivia Capital Partners LLC purchased a new stake in Canadian Imperial Bank of Commerce in the second quarter valued at about $262,000. EverSource Wealth Advisors LLC raised its stake in Canadian Imperial Bank of Commerce by 12.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,801 shares of the bank’s stock valued at $128,000 after buying an additional 193 shares during the last quarter. Brown Advisory Inc. raised its stake in Canadian Imperial Bank of Commerce by 2.6% in the second quarter. Brown Advisory Inc. now owns 6,277 shares of the bank’s stock valued at $445,000 after buying an additional 160 shares during the last quarter. Qube Research & Technologies Ltd raised its stake in Canadian Imperial Bank of Commerce by 74.6% in the second quarter. Qube Research & Technologies Ltd now owns 336,017 shares of the bank’s stock valued at $23,833,000 after buying an additional 143,588 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in Canadian Imperial Bank of Commerce by 7,315.0% in the second quarter. NewEdge Advisors LLC now owns 2,966 shares of the bank’s stock valued at $210,000 after buying an additional 2,926 shares during the last quarter. Institutional investors own 49.88% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CM. Scotiabank reiterated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, May 4th. Weiss Ratings upgraded Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday. Barclays upgraded Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research note on Thursday, February 19th. Raymond James Financial reiterated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Finally, Zacks Research cut Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.50.

Canadian Imperial Bank of Commerce Trading Up 0.1%

Shares of NYSE:CM opened at $115.56 on Tuesday. Canadian Imperial Bank of Commerce has a 52-week low of $66.74 and a 52-week high of $116.12. The stock has a market cap of $106.12 billion, a price-to-earnings ratio of 16.85, a PEG ratio of 1.21 and a beta of 1.05. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $104.69 and a 200-day moving average price of $96.74.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, February 26th. The bank reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.25. Canadian Imperial Bank of Commerce had a return on equity of 15.69% and a net margin of 15.15%.The firm had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $5.53 billion. During the same period last year, the business posted $2.20 earnings per share. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities analysts predict that Canadian Imperial Bank of Commerce will post 7.48 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Friday, March 27th were paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 45.77%.

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.