Canadian Imperial Bank of Commerce $CM Position Raised by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. grew its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 4.1% in the second quarter, Holdings Channel.com reports. The firm owned 8,475,369 shares of the bank’s stock after buying an additional 337,620 shares during the period. Canadian Imperial Bank of Commerce comprises about 2.6% of TD Waterhouse Canada Inc.’s investment portfolio, making the stock its 6th biggest position. TD Waterhouse Canada Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $985,227,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Larson Financial Group LLC raised its position 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 purchasing an additional 219 shares during the period. EFG International AG bought a new position in Canadian Imperial Bank of Commerce in the 4th quarter worth approximately $35,000. Bell Investment Advisors Inc bought a new position in Canadian Imperial Bank of Commerce in the 2nd quarter worth approximately $36,000. Global Assets Advisory LLC purchased a new position in Canadian Imperial Bank of Commerce in the 1st quarter valued at approximately $54,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in Canadian Imperial Bank of Commerce by 87.0% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock valued at $69,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock opened at $118.20 on Friday. The firm’s 50 day simple moving average is $117.52 and its 200 day simple moving average is $109.60. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $107.90 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 1.17 and a beta of 1.01. Canadian Imperial Bank of Commerce has a 1-year low of $77.66 and a 1-year high of $124.86.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, August 27th. The bank reported $1.96 EPS for the quarter, beating the consensus estimate of $1.80 by $0.16. Canadian Imperial Bank of Commerce had a net margin of 16.09% and a return on equity of 17.02%. The firm had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.74 billion. As a group, analysts expect that Canadian Imperial Bank of Commerce will post 7.41 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Monday, September 28th will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, September 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 41.39%.

Analyst Ratings Changes

A number of brokerages have issued reports on CM. Barclays reissued an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 21st. Keefe, Bruyette & Woods initiated coverage on Canadian Imperial Bank of Commerce in a research report on Friday, August 21st. They issued a “market perform” rating for the company. Desjardins cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Jefferies Financial Group reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 28th. Finally, TD Securities reissued a “buy” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has an average rating of “Moderate Buy” and an average target price of $167.00.

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.