Canadian Imperial Bank of Commerce $CM Shares Acquired by Quantinno Capital Management LP

Key Points

• Quantinno Capital Management increased its CIBC holdings by 15.5% in the first quarter, purchasing 13,177 additional shares for a total position of 98,277 shares valued at approximately $9.3 million. Institutional investors and hedge funds collectively own 49.88% of the stock.
• Analyst sentiment remains positive but mixed, with four Buy and four Hold ratings. CIBC has a “Moderate Buy” consensus rating and an average price target of $167.
• CIBC exceeded quarterly earnings expectations, reporting $1.86 in EPS versus the $1.78 consensus and $5.89 billion in revenue. The bank also paid a quarterly dividend of $1.07 per share, equivalent to a 3.6% annualized yield.

Quantinno Capital Management LP lifted its holdings in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 15.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,277 shares of the bank's stock after buying an additional 13,177 shares during the period. Quantinno Capital Management LP's holdings in Canadian Imperial Bank of Commerce were worth $9,312,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CM. Larson Financial Group LLC raised its holdings in Canadian Imperial Bank of Commerce by 119.7% in the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the bank's stock valued at $32,000 after acquiring an additional 219 shares during the last quarter. EFG International AG acquired a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $35,000. Global Assets Advisory LLC acquired a new position in shares of Canadian Imperial Bank of Commerce during the 1st quarter worth approximately $54,000. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position in shares of Canadian Imperial Bank of Commerce by 87.0% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank's stock valued at $69,000 after purchasing an additional 400 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in shares of Canadian Imperial Bank of Commerce by 2,758.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 829 shares of the bank's stock valued at $75,000 after purchasing an additional 800 shares in the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on CM shares. Scotiabank reiterated an "outperform" rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, June 16th. Weiss Ratings upgraded Canadian Imperial Bank of Commerce from a "buy (b)" rating to a "buy (b+)" rating in a report on Friday. Desjardins downgraded Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research note on Tuesday. Zacks Research cut Canadian Imperial Bank of Commerce from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 28th. Finally, Barclays reaffirmed an "overweight" rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, June 1st. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $167.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE CM opened at $117.96 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $107.68 billion, a price-to-earnings ratio of 16.20, a price-to-earnings-growth ratio of 1.29 and a beta of 1.01. The stock's 50-day moving average is $114.59 and its two-hundred day moving average is $105.88. Canadian Imperial Bank of Commerce has a 1-year low of $71.78 and a 1-year high of $122.50.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last released its earnings results on Thursday, May 28th. The bank reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. The firm had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.86 billion. During the same period in the prior year, the firm earned $2.05 earnings per share. The business's quarterly revenue was up 14.0% compared to the same quarter last year. Analysts forecast that Canadian Imperial Bank of Commerce will post 7.37 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Monday, June 29th were given a $1.07 dividend. The ex-dividend date of this dividend was Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.6%. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 42.58%.

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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