Capital International Investors Acquires 17,507 Shares of Canadian Imperial Bank of Commerce $CM

Key Points

• Capital International Investors increased its stake in Canadian Imperial Bank of Commerce by 17,507 shares in the fourth quarter, bringing its total holdings to 4,155,990 shares worth about $376.8 million.
• CIBC reported strong quarterly results, with earnings of $1.86 per share topping estimates and revenue of $5.89 billion slightly above forecasts. Revenue also rose 14% year over year.
• The bank declared a quarterly dividend of $1.07 per share, equal to an annualized yield of 3.9%, while analysts currently have a consensus rating of Hold with a $167.00 price target.

Capital International Investors boosted its holdings in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,155,990 shares of the bank's stock after buying an additional 17,507 shares during the period. Capital International Investors owned approximately 0.45% of Canadian Imperial Bank of Commerce worth $376,766,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC increased its position in Canadian Imperial Bank of Commerce by 1.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 9,716 shares of the bank's stock worth $880,000 after buying an additional 114 shares during the period. Sivia Capital Partners LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 3.1% during the 4th quarter. Sivia Capital Partners LLC now owns 3,832 shares of the bank's stock worth $347,000 after purchasing an additional 116 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Canadian Imperial Bank of Commerce by 3.5% during the third quarter. Parallel Advisors LLC now owns 3,404 shares of the bank's stock valued at $272,000 after purchasing an additional 116 shares during the period. McIlrath & Eck LLC increased its position in shares of Canadian Imperial Bank of Commerce by 7.1% during the fourth quarter. McIlrath & Eck LLC now owns 1,936 shares of the bank's stock valued at $175,000 after purchasing an additional 128 shares during the period. Finally, Bridgewater Advisors Inc. increased its position in shares of Canadian Imperial Bank of Commerce by 4.2% during the fourth quarter. Bridgewater Advisors Inc. now owns 3,402 shares of the bank's stock valued at $311,000 after purchasing an additional 138 shares during the period. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM stock opened at $108.99 on Monday. The stock's fifty day simple moving average is $107.14 and its 200 day simple moving average is $98.28. 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 firm has a market cap of $99.49 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 1.17 and a beta of 1.02. 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 quarterly 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 business had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.86 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.Canadian Imperial Bank of Commerce's quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.05 EPS. On average, analysts expect that Canadian Imperial Bank of Commerce will post 7.43 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CM shares. Barclays restated an "overweight" rating on shares of Canadian Imperial Bank of Commerce in a research report on Monday, June 1st. Raymond James Financial restated a "market perform" rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, May 12th. Zacks Research cut Canadian Imperial Bank of Commerce from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. Jefferies Financial Group restated a "hold" rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 28th. Finally, Scotiabank cut Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research report on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $167.00.

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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