Canadian Imperial Bank of Commerce $CM Stock: Ethic Inc. Increases Holdings

Ethic Inc. grew its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 53.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 31,789 shares of the bank’s stock after purchasing an additional 11,138 shares during the period. Ethic Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $3,503,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Deutsche Bank AG acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 2nd quarter worth $237,643,000. Mediolanum International Funds Ltd grew its stake in Canadian Imperial Bank of Commerce by 142.8% during the 1st quarter. Mediolanum International Funds Ltd now owns 142,455 shares of the bank’s stock worth $13,086,000 after buying an additional 83,784 shares during the last quarter. Bank of Nova Scotia increased its position in Canadian Imperial Bank of Commerce by 0.5% during the 1st quarter. Bank of Nova Scotia now owns 12,683,488 shares of the bank’s stock valued at $1,201,762,000 after buying an additional 57,210 shares in the last quarter. Man Group plc acquired a new position in Canadian Imperial Bank of Commerce during the 2nd quarter valued at about $4,434,000. Finally, Tacita Capital Inc acquired a new position in Canadian Imperial Bank of Commerce during the 2nd quarter valued at about $1,834,000. 49.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on CM. Keefe, Bruyette & Woods initiated coverage on Canadian Imperial Bank of Commerce in a research note on Friday, August 21st. They issued a “market perform” rating for the company. Royal Bank Of Canada restated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 28th. TD Securities restated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, August 12th. Weiss Ratings upgraded shares of Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (a)” rating in a report on Wednesday, November 4th. Finally, Desjardins lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $160.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM opened at $115.67 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50-day moving average of $113.83 and a two-hundred day moving average of $109.47. The stock has a market cap of $104.74 billion, a P/E ratio of 15.83, a P/E/G ratio of 1.07 and a beta of 1.01. Canadian Imperial Bank of Commerce has a one year low of $82.71 and a one year high of $124.86.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, August 27th. The bank reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. Canadian Imperial Bank of Commerce had a return on equity of 17.02% and a net margin of 16.09%. The business had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.74 billion. As a group, research analysts predict that Canadian Imperial Bank of Commerce will post 7.60 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 28th. Shareholders of record on Monday, September 28th were paid a dividend of C$1.07 per share. This represents a $4.28 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Monday, September 28th. Canadian Imperial Bank of Commerce’s payout ratio is 41.26%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a diversified financial institution headquartered in Toronto, Canada. It traces its roots to the Canadian Bank of Commerce, founded in 1867, and was formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada. CIBC provides personal and business banking, commercial banking, wealth management, and capital markets services. Its offerings include deposit accounts, mortgages, lending, payment services, investment and financial advice, and financing and advisory services for businesses and institutional clients.