Amundi Has $369.18 Million Holdings in Canadian Imperial Bank of Commerce $CM

Key Points

• Amundi increased its CIBC holdings by 5.4% in the second quarter, owning 3.21 million shares valued at approximately $369.2 million. Institutional investors collectively own 49.88% of the bank.
• CIBC exceeded quarterly expectations, reporting $1.96 in earnings per share versus the $1.80 consensus estimate and revenue of $5.97 billion against the $5.74 billion forecast.
• The bank declared a quarterly dividend of $1.07 per share, equal to a 3.6% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $167.

Amundi increased its holdings in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 5.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,209,521 shares of the bank's stock after purchasing an additional 163,631 shares during the period. Amundi owned approximately 0.35% of Canadian Imperial Bank of Commerce worth $369,177,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Tanager Wealth Management LLP acquired a new stake in shares of Canadian Imperial Bank of Commerce in the second quarter worth $264,000. Trans Canada Capital Inc. acquired a new position in Canadian Imperial Bank of Commerce in the 2nd quarter valued at $7,623,000. Gainline Financial Partners LLC acquired a new position in Canadian Imperial Bank of Commerce in the 2nd quarter valued at $460,000. Oakmont Investment Advisors Inc. bought a new position in Canadian Imperial Bank of Commerce in the 2nd quarter worth $784,000. Finally, Syon Capital LLC raised its holdings in Canadian Imperial Bank of Commerce by 7.6% in the 2nd quarter. Syon Capital LLC now owns 4,019 shares of the bank's stock worth $462,000 after acquiring an additional 283 shares during the period. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Stock Up 0.1%

Shares of CM opened at $117.66 on Tuesday. The company has a 50-day simple moving average of $117.68 and a 200-day simple moving average of $109.90. The firm has a market capitalization of $107.40 billion, a P/E ratio of 15.71, a P/E/G ratio of 1.19 and a beta of 1.01. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05. Canadian Imperial Bank of Commerce has a 52 week low of $77.66 and a 52 week high of $124.86.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last released its earnings results on Thursday, August 27th. The bank reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.80 by $0.16. Canadian Imperial Bank of Commerce had a return on equity of 17.02% and a net margin of 16.09%.The business had revenue of $5.97 billion for the quarter, compared to the consensus estimate of $5.74 billion. On average, equities research analysts expect that Canadian Imperial Bank of Commerce will post 7.41 earnings per share for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Monday, September 28th will be issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, September 28th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is presently 41.39%.

Analysts Set New Price Targets

CM has been the subject of a number of recent analyst reports. 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, August 27th. Scotiabank reiterated an "outperform" rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, June 16th. Keefe, Bruyette & Woods started coverage on Canadian Imperial Bank of Commerce in a research report on Friday, August 21st. They set a "market perform" rating for the company. Raymond James Financial reissued a "market perform" rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, May 12th. Finally, Royal Bank Of Canada restated an "outperform" rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of "Moderate Buy" and a consensus target price of $167.00.

Canadian Imperial Bank of Commerce Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.