Bank of New York Mellon Corp Acquires 30,478 Shares of Canadian Imperial Bank of Commerce $CM

Bank of New York Mellon Corp grew its position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 932,184 shares of the bank's stock after purchasing an additional 30,478 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.10% of Canadian Imperial Bank of Commerce worth $84,465,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 43,097,841 shares of the bank's stock valued at $3,907,078,000 after purchasing an additional 876,974 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Canadian Imperial Bank of Commerce by 1.1% in the 3rd quarter. TD Asset Management Inc now owns 22,752,807 shares of the bank's stock valued at $1,818,556,000 after purchasing an additional 249,722 shares during the last quarter. Canerector Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 11,021.0% in the 3rd quarter. Canerector Inc. now owns 22,242,000 shares of the bank's stock valued at $1,776,913,000 after purchasing an additional 22,042,000 shares during the last quarter. Norges Bank bought a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at $958,383,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Canadian Imperial Bank of Commerce by 10.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,349,841 shares of the bank's stock valued at $826,866,000 after purchasing an additional 980,811 shares during the last quarter. 49.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CM. Royal Bank Of Canada upped their price objective 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. Barclays reaffirmed an "overweight" rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, June 1st. Weiss Ratings lowered shares of Canadian Imperial Bank of Commerce from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Thursday. Scotiabank lowered shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research note on Monday, June 1st. Finally, Zacks Research lowered shares of Canadian Imperial Bank of Commerce from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 28th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $167.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM stock opened at $109.61 on Tuesday. The firm has a 50-day moving average of $107.44 and a 200-day moving average of $98.45. The company has a market cap of $100.05 billion, a P/E ratio of 15.06, a P/E/G ratio of 1.17 and a beta of 1.02. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a one year low of $67.46 and a one year high of $117.05.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last announced its earnings results on Thursday, May 28th. The bank reported $1.86 EPS for the quarter, beating the consensus estimate of $1.78 by $0.08. The company had revenue of $5.89 billion during the quarter, compared to the consensus estimate of $5.86 billion. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. The firm's revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.05 earnings per share. Equities research analysts forecast that Canadian Imperial Bank of Commerce will post 7.43 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Monday, June 29th will be issued a $1.07 dividend. The ex-dividend date is Monday, June 29th. This represents a $4.28 annualized dividend and a dividend yield of 3.9%. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 43.13%.

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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