Mn Services Vermogensbeheer B.V. Boosts Stock Holdings in Canadian Imperial Bank of Commerce $CM

Mn Services Vermogensbeheer B.V. grew its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 16.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 215,276 shares of the bank’s stock after purchasing an additional 30,776 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Canadian Imperial Bank of Commerce were worth $19,541,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Parallel Advisors LLC increased its holdings in Canadian Imperial Bank of Commerce by 3.5% during the third quarter. Parallel Advisors LLC now owns 3,404 shares of the bank’s stock valued at $272,000 after buying an additional 116 shares during the period. 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 worth $445,000 after buying an additional 160 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Canadian Imperial Bank of Commerce by 8.9% during the third quarter. EverSource Wealth Advisors LLC now owns 1,962 shares of the bank’s stock worth $157,000 after buying an additional 161 shares during the period. Checchi Capital Advisers LLC boosted its position in Canadian Imperial Bank of Commerce by 3.7% during the 3rd quarter. Checchi Capital Advisers LLC now owns 4,799 shares of the bank’s stock valued at $383,000 after acquiring an additional 169 shares in the last quarter. Finally, Pacifica Partners Inc. boosted its position in Canadian Imperial Bank of Commerce by 12.1% during the 3rd quarter. Pacifica Partners Inc. now owns 1,756 shares of the bank’s stock valued at $141,000 after acquiring an additional 190 shares in the last quarter. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Up 3.2%

NYSE:CM opened at $94.71 on Wednesday. The stock has a market capitalization of $87.55 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 0.95 and a beta of 1.00. 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 quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $96.59 and a 200 day moving average of $89.77.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results 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. The business had revenue of $6.16 billion for the quarter, compared to analyst estimates of $5.53 billion. Canadian Imperial Bank of Commerce had a net margin of 15.15% and a return on equity of 15.69%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.20 earnings per share. As a group, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Friday, March 27th will be paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.5%. The ex-dividend date is Friday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is 45.77%.

Analysts Set New Price Targets

CM has been the topic of a number of analyst reports. Zacks Research upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 4th. Barclays raised Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research report on Thursday, February 19th. Finally, Weiss Ratings upgraded Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Tuesday, March 10th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.50.

About Canadian Imperial Bank of Commerce

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.