Capital International Ltd. CA Acquires 11,231 Shares of Canadian Imperial Bank of Commerce $CM

Capital International Ltd. CA boosted its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 27.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,126 shares of the bank’s stock after purchasing an additional 11,231 shares during the period. Capital International Ltd. CA’s holdings in Canadian Imperial Bank of Commerce were worth $4,166,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Canadian Imperial Bank of Commerce by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 42,220,867 shares of the bank’s stock valued at $3,373,827,000 after acquiring an additional 810,582 shares during the period. TD Asset Management Inc grew its holdings in Canadian Imperial Bank of Commerce by 1.1% in the 3rd quarter. TD Asset Management Inc now owns 22,752,807 shares of the bank’s stock worth $1,818,556,000 after acquiring an additional 249,722 shares during the last quarter. Canerector Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 11,021.0% during the third quarter. Canerector Inc. now owns 22,242,000 shares of the bank’s stock valued at $1,776,913,000 after acquiring an additional 22,042,000 shares during the last quarter. Norges Bank bought a new stake in shares of Canadian Imperial Bank of Commerce in the second quarter worth about $730,245,000. Finally, CIBC Asset Management Inc lifted its holdings in Canadian Imperial Bank of Commerce by 4.0% in the 3rd quarter. CIBC Asset Management Inc now owns 9,910,976 shares of the bank’s stock worth $791,049,000 after buying an additional 384,414 shares during the period. 49.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CM. Zacks Research raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 4th. Barclays upgraded shares of Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a report on Thursday, February 19th. Raymond James Financial initiated coverage on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, November 25th. They issued a “market perform” rating on the stock. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $107.50.

Canadian Imperial Bank of Commerce Stock Performance

NYSE:CM opened at $97.89 on Tuesday. Canadian Imperial Bank of Commerce has a 52-week low of $53.62 and a 52-week high of $105.00. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $90.49 billion, a PE ratio of 14.27, a P/E/G ratio of 1.03 and a beta of 1.00. The stock has a 50-day simple moving average of $95.13 and a two-hundred day simple moving average of $87.63.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Thursday, February 26th. The bank reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.25. The company had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $5.53 billion. Canadian Imperial Bank of Commerce had a net margin of 15.15% and a return on equity of 15.20%. Canadian Imperial Bank of Commerce’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.20 EPS. Analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Friday, March 27th will be issued a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 44.61%.

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.