Eisler Capital Management Ltd. Takes $19.77 Million Position in Canadian Imperial Bank of Commerce $CM

Key Points

• Eisler Capital Management Ltd. has acquired a new $19.77 million position in Canadian Imperial Bank of Commerce, purchasing 350,000 shares, making it the fund's 20th largest holding.
• The bank reported earnings of $1.44 per share for the latest quarter, surpassing analysts' estimates and showing a 13.9% year-over-year increase in quarterly revenue.
• Canadian Imperial Bank of Commerce has recently increased its quarterly dividend from $0.67 to $0.7024 per share, reflecting its robust financial performance.

Eisler Capital Management Ltd. acquired a new stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 350,000 shares of the bank's stock, valued at approximately $19,765,000. Canadian Imperial Bank of Commerce accounts for about 0.1% of Eisler Capital Management Ltd.'s portfolio, making the stock its 20th largest holding.

A number of other large investors also recently modified their holdings of CM. JPMorgan Chase & Co. lifted its stake in shares of Canadian Imperial Bank of Commerce by 31.6% during the 1st quarter. JPMorgan Chase & Co. now owns 10,581,914 shares of the bank's stock valued at $595,762,000 after buying an additional 2,538,808 shares in the last quarter. Nuveen LLC purchased a new stake in Canadian Imperial Bank of Commerce in the 1st quarter worth $124,797,000. Mackenzie Financial Corp lifted its stake in Canadian Imperial Bank of Commerce by 41.1% in the 4th quarter. Mackenzie Financial Corp now owns 6,835,795 shares of the bank's stock worth $431,952,000 after purchasing an additional 1,990,520 shares in the last quarter. Public Sector Pension Investment Board lifted its stake in Canadian Imperial Bank of Commerce by 27.2% in the 1st quarter. Public Sector Pension Investment Board now owns 4,681,008 shares of the bank's stock worth $263,281,000 after purchasing an additional 1,000,400 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Canadian Imperial Bank of Commerce by 223.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,293,763 shares of the bank's stock worth $72,767,000 after purchasing an additional 894,035 shares in the last quarter. Hedge funds and other institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM opened at $73.75 on Wednesday. The firm has a market capitalization of $68.55 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 1.59 and a beta of 1.06. 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 has a 1-year low of $53.62 and a 1-year high of $74.63. The company's fifty day moving average price is $72.25 and its 200-day moving average price is $65.26.

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

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 28th. Investors of record on Friday, June 27th were given a dividend of $0.7024 per share. 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 dividend yield of 3.8%. Canadian Imperial Bank of Commerce's payout ratio is currently 49.56%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CM. Royal Bank Of Canada boosted their target price on shares of Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Scotiabank initiated coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They set a "sector outperform" rating on the stock. BMO Capital Markets raised their target price on shares of Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, National Bank Financial lowered shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research report on Friday, May 30th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $109.00.

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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