19,997 Shares in Canadian Imperial Bank of Commerce $CM Acquired by BTG Pactual Asset Management US LLC

BTG Pactual Asset Management US LLC bought a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the second quarter, Holdings Channel.com reports. The fund bought 19,997 shares of the bank’s stock, valued at approximately $2,300,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CM. Two Sigma Securities LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 4.0% in the 2nd quarter. Two Sigma Securities LLC now owns 5,134 shares of the bank’s stock worth $590,000 after buying an additional 196 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth $799,000. Wellington Management Group LLP purchased a new position in Canadian Imperial Bank of Commerce in the second quarter worth $9,509,000. Beacon Pointe Advisors LLC bought a new position in Canadian Imperial Bank of Commerce in the second quarter valued at $214,000. Finally, United Capital Financial Advisors LLC purchased a new stake in Canadian Imperial Bank of Commerce during the second quarter valued at about $474,000. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Key Canadian Imperial Bank of Commerce News

Here are the key news stories impacting Canadian Imperial Bank of Commerce this week:

• Positive Sentiment: Adjusted third-quarter earnings per share rose 26% year over year to $2.73, marking CIBC’s ninth consecutive quarter of double-digit EPS growth. Adjusted net income increased to C$2.648 billion on revenue of C$8.368 billion, while return on equity reached 16.8%. CIBC Notches a Ninth Straight Quarter of Double-Digit Growth
• Positive Sentiment: Profit exceeded analyst expectations, supported by growth in domestic retail banking, capital markets and CIBC’s U.S. operations. Reported quarterly earnings reached C$2.41 billion, up from C$2.1 billion a year earlier. CIBC Beats Profit Forecast on Growth in Domestic Banking
• Positive Sentiment: CIBC declared a quarterly dividend of C$1.07 per share, payable October 28 to shareholders of record September 28. The dividend supports an annualized yield of approximately 3.7% and may appeal to income-focused investors.
• Neutral Sentiment: Analysts’ recent price targets remain above the current trading range, with targets of C$144, C$157 and C$167. However, these targets predate the latest earnings reaction and may not yet reflect investor concerns about capital and one-time costs.
• Negative Sentiment: The quarter included C$269 million in charges related to the announced sale of CIBC Caribbean Bank. The bank’s CET1 capital ratio also declined to 13.4% from 13.6%, partly because of the charge, a minority investment closing and share repurchases. Those factors offset the operating-profit beat and contributed to the weaker market response. CIBC Slides After Earnings as Sale Charge and Capital Ratio Dip Offset a Profit Beat

Canadian Imperial Bank of Commerce Trading Up 0.1%

Shares of CM stock opened at $114.46 on Monday. The stock has a market capitalization of $104.48 billion, a PE ratio of 15.28, a P/E/G ratio of 1.19 and a beta of 1.01. Canadian Imperial Bank of Commerce has a 1-year low of $76.10 and a 1-year high of $124.86. The business has a 50-day moving average of $117.46 and a 200 day moving average of $109.08. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05.

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

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Monday, September 28th will be issued a $1.07 dividend. The ex-dividend date is Monday, September 28th. This represents a $4.28 annualized dividend and a dividend yield of 3.7%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 41.39%.

Analyst Ratings Changes

CM has been the topic of several recent research reports. Scotiabank reiterated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, June 16th. Keefe, Bruyette & Woods started coverage on Canadian Imperial Bank of Commerce in a research note on Friday, August 21st. They issued a “market perform” rating for the company. TD Securities reiterated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, August 12th. 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, Weiss Ratings upgraded shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to 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 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.