Canadian Imperial Bank of Commerce $CM Shares Acquired by Kepler Cheuvreux Suisse SA

Key Points

• Kepler Cheuvreux Suisse SA more than doubled its position in Canadian Imperial Bank of Commerce, increasing its stake by 105.3% to 287,239 shares valued at about $26.0 million.
• Institutional interest in CIBC remains notable, with hedge funds and other large investors recently adding shares; overall, 49.88% of the stock is owned by institutions.
• CIBC reported stronger-than-expected quarterly results, posting $1.99 EPS versus the $1.74 estimate and revenue of $6.16 billion, while also maintaining a quarterly dividend of $1.07 per share.

Kepler Cheuvreux Suisse SA boosted its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 105.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 287,239 shares of the bank's stock after buying an additional 147,321 shares during the period. Canadian Imperial Bank of Commerce accounts for approximately 1.5% of Kepler Cheuvreux Suisse SA's investment portfolio, making the stock its 21st largest holding. Kepler Cheuvreux Suisse SA's holdings in Canadian Imperial Bank of Commerce were worth $26,027,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased its stake in shares of Canadian Imperial Bank of Commerce by 119.7% in the third quarter. Larson Financial Group LLC now owns 402 shares of the bank's stock valued at $32,000 after purchasing an additional 219 shares during the period. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce in the third quarter valued at approximately $34,000. Guerra Advisors Inc acquired a new stake in shares of Canadian Imperial Bank of Commerce in the third quarter valued at approximately $35,000. Lodestone Wealth Management LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $37,000. Finally, CX Institutional increased its stake in shares of Canadian Imperial Bank of Commerce by 301.1% in the third quarter. CX Institutional now owns 722 shares of the bank's stock valued at $58,000 after purchasing an additional 542 shares during the period. 49.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CM has been the topic of several analyst reports. Scotiabank restated an "outperform" rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, May 4th. Weiss Ratings lowered Canadian Imperial Bank of Commerce from a "buy (a-)" rating to a "buy (b+)" rating in a report on Friday, April 17th. Zacks Research lowered Canadian Imperial Bank of Commerce from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 28th. Finally, Barclays raised Canadian Imperial Bank of Commerce from an "underweight" rating to an "overweight" rating in a report on Thursday, February 19th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of "Moderate Buy" and a consensus price target of $107.50.

Canadian Imperial Bank of Commerce Trading Down 0.0%

NYSE CM opened at $110.00 on Monday. Canadian Imperial Bank of Commerce has a twelve month low of $63.44 and a twelve month high of $113.28. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $101.01 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 1.13 and a beta of 1.05. The firm's 50 day moving average price is $101.71 and its two-hundred day moving average price is $94.19.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last released its earnings results on Thursday, February 26th. The bank reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.25. Canadian Imperial Bank of Commerce had a return on equity of 15.69% and a net margin of 15.15%.The company had revenue of $6.16 billion for the quarter, compared to analysts' expectations of $5.53 billion. During the same quarter in the previous year, the business posted $2.20 EPS. The business's revenue for the quarter was up 15.3% on a year-over-year basis. Equities analysts anticipate that Canadian Imperial Bank of Commerce will post 7.57 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Investors of record on Friday, March 27th were issued a $1.07 dividend. The ex-dividend date was Friday, March 27th. This represents a $4.28 dividend on an annualized basis and a yield of 3.9%. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 45.77%.

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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