Achmea Investment Management B.V. Increases Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Achmea Investment Management B.V. raised its position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 18.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 384,637 shares of the bank's stock after acquiring an additional 58,970 shares during the quarter. Achmea Investment Management B.V.'s holdings in Canadian Imperial Bank of Commerce were worth $21,633,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CM. Norges Bank bought a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth about $570,477,000. Capital International Investors purchased a new stake in Canadian Imperial Bank of Commerce in the fourth quarter worth about $424,386,000. FIL Ltd raised its position in shares of Canadian Imperial Bank of Commerce by 53.6% in the 4th quarter. FIL Ltd now owns 12,387,607 shares of the bank's stock worth $783,613,000 after acquiring an additional 4,321,451 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Canadian Imperial Bank of Commerce by 37.3% in the 4th quarter. JPMorgan Chase & Co. now owns 8,043,106 shares of the bank's stock valued at $508,566,000 after purchasing an additional 2,185,262 shares during the period. Finally, Mackenzie Financial Corp boosted its position in shares of Canadian Imperial Bank of Commerce by 41.1% during the fourth quarter. Mackenzie Financial Corp now owns 6,835,795 shares of the bank's stock valued at $431,952,000 after purchasing an additional 1,990,520 shares in the last quarter. 49.88% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CM shares. Scotiabank initiated coverage on Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They set a "sector outperform" rating for the company. Royal Bank Of Canada increased their price target on shares of Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. National Bank Financial lowered shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. BMO Capital Markets upped their price objective on shares of Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Finally, Wall Street Zen upgraded shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $109.00.

Canadian Imperial Bank of Commerce Stock Up 0.5%

Shares of Canadian Imperial Bank of Commerce stock opened at $70.56 on Friday. The company has a 50-day simple moving average of $66.00 and a two-hundred day simple moving average of $62.52. The stock has a market capitalization of $66.34 billion, a PE ratio of 12.40, a price-to-earnings-growth ratio of 1.52 and a beta of 1.05. Canadian Imperial Bank of Commerce has a 52-week low of $47.11 and a 52-week high of $70.96. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last announced its quarterly earnings data on Thursday, May 29th. The bank reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.10. Canadian Imperial Bank of Commerce had a net margin of 12.19% and a return on equity of 14.51%. The company had revenue of $5.09 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the business earned $1.75 EPS. The firm's revenue for the quarter was up 13.9% on a year-over-year basis. On average, analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, June 27th will be paid a dividend of $0.7024 per share. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.81 annualized dividend and a yield of 3.98%. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 47.10%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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