Allianz Asset Management GmbH boosted its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 702.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 629,212 shares of the bank's stock after acquiring an additional 550,836 shares during the period. Allianz Asset Management GmbH owned 0.07% of Canadian Imperial Bank of Commerce worth $44,572,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in CM. Farther Finance Advisors LLC boosted its holdings in Canadian Imperial Bank of Commerce by 51.1% in the first quarter. Farther Finance Advisors LLC now owns 902 shares of the bank's stock valued at $51,000 after acquiring an additional 305 shares during the last quarter. SG Americas Securities LLC bought a new stake in Canadian Imperial Bank of Commerce in the first quarter valued at approximately $530,000. Janney Montgomery Scott LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce by 0.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 53,304 shares of the bank's stock worth $3,001,000 after buying an additional 471 shares in the last quarter. Sowell Financial Services LLC bought a new position in shares of Canadian Imperial Bank of Commerce during the 1st quarter worth approximately $204,000. Finally, Hudson Value Partners LLC bought a new position in shares of Canadian Imperial Bank of Commerce during the 1st quarter worth approximately $708,000. 49.88% of the stock is currently owned by institutional investors.
Canadian Imperial Bank of Commerce Price Performance
Shares of CM opened at $80.28 on Friday. Canadian Imperial Bank of Commerce has a 12-month low of $53.62 and a 12-month high of $82.23. The business's fifty day moving average is $78.17 and its 200 day moving average is $70.72. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.14. The stock has a market cap of $74.63 billion, a P/E ratio of 13.56, a P/E/G ratio of 1.70 and a beta of 1.03.
Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last issued its earnings results on Thursday, August 28th. The bank reported $1.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.14. Canadian Imperial Bank of Commerce had a return on equity of 14.67% and a net margin of 12.94%.The company had revenue of $5.24 billion for the quarter, compared to analysts' expectations of $5.12 billion. During the same period last year, the business earned $1.93 EPS. Canadian Imperial Bank of Commerce's quarterly revenue was up 3.3% compared to the same quarter last year. 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 Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 28th. Investors of record on Monday, September 29th will be issued a $0.97 dividend. The ex-dividend date is Monday, September 29th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.8%. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.70. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 47.64%.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Saturday. Weiss Ratings restated a "buy (b)" rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, October 8th. Finally, Royal Bank Of Canada increased their price target on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an "outperform" rating in a report on Friday, August 29th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $107.50.
Check Out Our Latest Analysis on CM
About Canadian Imperial Bank of Commerce
(
Free Report)
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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