Public Employees Retirement System of Ohio Has $14.41 Million Holdings in Canadian Imperial Bank of Commerce $CM

Public Employees Retirement System of Ohio increased its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 45.1% during the first quarter, Holdings Channel reports. The fund owned 152,534 shares of the bank’s stock after purchasing an additional 47,438 shares during the period. Public Employees Retirement System of Ohio’s holdings in Canadian Imperial Bank of Commerce were worth $14,407,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. EFG International AG acquired a new position in Canadian Imperial Bank of Commerce in the fourth quarter worth $35,000. Larson Financial Group LLC increased its stake in shares of Canadian Imperial Bank of Commerce by 119.7% in the third quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock valued at $32,000 after buying an additional 219 shares in the last quarter. Lodestone Wealth Management LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at about $37,000. Global Assets Advisory LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the first quarter valued at about $54,000. Finally, Parkside Financial Bank & Trust lifted its position in Canadian Imperial Bank of Commerce by 2,758.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 829 shares of the bank’s stock worth $75,000 after buying an additional 800 shares in the last quarter. Institutional investors own 49.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. 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. Jefferies Financial Group reaffirmed a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 28th. Weiss Ratings lowered shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (b)” rating in a research report on Wednesday, July 15th. Raymond James Financial reissued a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Finally, Scotiabank reissued an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, June 16th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $167.00.

Canadian Imperial Bank of Commerce Stock Down 0.0%

Shares of NYSE:CM opened at $117.41 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $107.17 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 1.27 and a beta of 1.02. The company has a 50 day moving average of $114.03 and a 200-day moving average of $104.55. Canadian Imperial Bank of Commerce has a one year low of $71.00 and a one year high of $122.50.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. The firm had revenue of $5.89 billion for the quarter, compared to analysts’ expectations of $5.86 billion. During the same period last year, the firm earned $2.05 earnings per share. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. On average, sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 7.37 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

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 paid a $1.07 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.6%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 42.58%.

Canadian Imperial Bank of Commerce 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.