APG Asset Management N.V. Has $26.63 Million Stock Position in Canadian Imperial Bank of Commerce $CM

Key Points

• APG Asset Management N.V. reduced its stake in Canadian Imperial Bank of Commerce by 0.8%, holding 511,400 shares valued at approximately $26.63 million.
• Several institutional investors have increased their positions in Canadian Imperial Bank of Commerce, with total institutional ownership now at 49.88%.
• The bank recently reported earnings of $1.44 per share, surpassing estimates, and announced a quarterly dividend increase to $0.7024, representing a yield of 3.8%.

APG Asset Management N.V. decreased its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 0.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 511,400 shares of the bank's stock after selling 4,000 shares during the quarter. APG Asset Management N.V. owned about 0.05% of Canadian Imperial Bank of Commerce worth $26,628,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Gradient Investments LLC increased its position in shares of Canadian Imperial Bank of Commerce by 2.4% during the 1st quarter. Gradient Investments LLC now owns 8,278 shares of the bank's stock worth $466,000 after purchasing an additional 191 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Canadian Imperial Bank of Commerce by 4.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank's stock worth $255,000 after purchasing an additional 194 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 5.3% during the 1st quarter. Benjamin Edwards Inc. now owns 4,320 shares of the bank's stock worth $243,000 after acquiring an additional 216 shares during the period. Private Trust Co. NA boosted its stake in shares of Canadian Imperial Bank of Commerce by 40.0% during the 1st quarter. Private Trust Co. NA now owns 781 shares of the bank's stock worth $44,000 after acquiring an additional 223 shares during the period. Finally, PDS Planning Inc boosted its stake in shares of Canadian Imperial Bank of Commerce by 5.2% during the 1st quarter. PDS Planning Inc now owns 5,438 shares of the bank's stock worth $306,000 after acquiring an additional 271 shares during the period. Institutional investors and hedge funds own 49.88% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Royal Bank Of Canada lifted their target price on 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 downgraded Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Scotiabank assumed coverage on Canadian Imperial Bank of Commerce in a research note on Thursday, May 15th. They set a "sector outperform" rating for the company. BMO Capital Markets lifted their target price on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Finally, Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $109.00.

Canadian Imperial Bank of Commerce Stock Performance

CM opened at $73.1650 on Friday. The business has a fifty day simple moving average of $72.07 and a 200 day simple moving average of $65.10. The company has a market capitalization of $68.01 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 1.60 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 1 year low of $53.62 and a 1 year high of $74.63. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05.

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

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 28th. Investors of record on Friday, June 27th were paid a $0.7024 dividend. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. The ex-dividend date was Friday, June 27th. This represents a $2.81 annualized dividend and a yield of 3.8%. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 49.56%.

About Canadian Imperial Bank of Commerce

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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