2,066,458 Shares in Canadian Imperial Bank of Commerce $CM Purchased by Deutsche Bank AG

Deutsche Bank AG bought a new position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,066,458 shares of the bank's stock, valued at approximately $237,643,000. Deutsche Bank AG owned about 0.23% of Canadian Imperial Bank of Commerce as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of Nova Scotia raised its holdings in shares of Canadian Imperial Bank of Commerce by 0.5% during the first quarter. Bank of Nova Scotia now owns 12,683,488 shares of the bank's stock valued at $1,201,762,000 after purchasing an additional 57,210 shares during the last quarter. Mediolanum International Funds Ltd boosted its holdings in Canadian Imperial Bank of Commerce by 142.8% in the first quarter. Mediolanum International Funds Ltd now owns 142,455 shares of the bank's stock worth $13,086,000 after purchasing an additional 83,784 shares during the last quarter. Investment Management Corp of Ontario boosted its holdings in Canadian Imperial Bank of Commerce by 38.6% in the fourth quarter. Investment Management Corp of Ontario now owns 290,749 shares of the bank's stock worth $26,345,000 after purchasing an additional 80,914 shares during the last quarter. Legal & General Group Plc grew its position in Canadian Imperial Bank of Commerce by 2.0% in the 4th quarter. Legal & General Group Plc now owns 6,475,253 shares of the bank's stock worth $587,790,000 after purchasing an additional 125,069 shares during the period. Finally, Intech Investment Management LLC grew its position in Canadian Imperial Bank of Commerce by 6.5% in the 4th quarter. Intech Investment Management LLC now owns 343,828 shares of the bank's stock worth $31,211,000 after purchasing an additional 21,078 shares during the period. Institutional investors own 49.88% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Royal Bank Of Canada boosted their target price on shares of Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the company an "outperform" rating in a research note on Monday, June 1st. Jefferies Financial Group restated a "hold" rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 28th. Weiss Ratings raised Canadian Imperial Bank of Commerce from a "buy (b)" rating to a "buy (b+)" rating in a report on Friday, July 31st. Zacks Research cut Canadian Imperial Bank of Commerce from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. Finally, Desjardins downgraded Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Tuesday, August 4th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $167.00.

Canadian Imperial Bank of Commerce Stock Performance

CM opened at $121.70 on Wednesday. The company has a 50 day simple moving average of $116.83 and a two-hundred day simple moving average of $107.88. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $111.09 billion, a P/E ratio of 16.72, a PEG ratio of 1.34 and a beta of 1.01. Canadian Imperial Bank of Commerce has a 1-year low of $72.57 and a 1-year high of $124.86.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last announced its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 EPS for the quarter, beating the consensus estimate of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. The firm had revenue of $5.89 billion for the quarter, compared to the consensus estimate of $5.86 billion. During the same period last year, the firm earned $2.05 EPS. The company's revenue was up 14.0% on a year-over-year basis. Equities analysts forecast that Canadian Imperial Bank of Commerce will post 7.33 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Monday, June 29th were paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Monday, June 29th. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 42.58%.

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.

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