Janus Henderson Group PLC Grows Stock Holdings in Canadian Imperial Bank of Commerce $CM

Key Points

• Janus Henderson increased its CIBC stake by 9.5% in the first quarter, bringing its holdings to 214,595 shares valued at approximately $20.3 million. Institutional investors collectively own 49.88% of the bank.
• CIBC reported quarterly EPS of $1.86, topping estimates of $1.78, while revenue rose 14% year over year to $5.89 billion.
• The bank pays a quarterly dividend of $1.07 per share, equivalent to an annualized $4.28 dividend and a 3.6% yield; analysts maintain a “Moderate Buy” consensus with a $167 price target.

Janus Henderson Group PLC raised its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 9.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 214,595 shares of the bank's stock after acquiring an additional 18,625 shares during the quarter. Janus Henderson Group PLC's holdings in Canadian Imperial Bank of Commerce were worth $20,303,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Smith Group Asset Management LLC grew its position in shares of Canadian Imperial Bank of Commerce by 4.9% in the 1st quarter. Smith Group Asset Management LLC now owns 88,020 shares of the bank's stock valued at $8,340,000 after buying an additional 4,080 shares during the last quarter. Amundi lifted its position in Canadian Imperial Bank of Commerce by 25.7% in the first quarter. Amundi now owns 3,045,890 shares of the bank's stock valued at $288,815,000 after acquiring an additional 623,585 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Canadian Imperial Bank of Commerce by 23.9% in the first quarter. EverSource Wealth Advisors LLC now owns 3,132 shares of the bank's stock valued at $297,000 after acquiring an additional 605 shares during the last quarter. KCM Investment Advisors LLC acquired a new position in Canadian Imperial Bank of Commerce in the first quarter valued at $207,000. Finally, Quantinno Capital Management LP boosted its stake in Canadian Imperial Bank of Commerce by 15.5% in the first quarter. Quantinno Capital Management LP now owns 98,277 shares of the bank's stock valued at $9,312,000 after acquiring an additional 13,177 shares in the last quarter. Hedge funds and other institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Trading Up 0.6%

Shares of CM stock opened at $119.27 on Tuesday. The business's fifty day moving average price is $114.54 and its 200 day moving average price is $105.69. The firm has a market capitalization of $108.87 billion, a PE ratio of 16.38, a P/E/G ratio of 1.28 and a beta of 1.01. 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 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 posted its quarterly earnings results on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company's revenue for the quarter was up 14.0% on a year-over-year basis. During the same period last year, the firm earned $2.05 EPS. As a group, sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 7.37 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Zacks Research cut shares of Canadian Imperial Bank of Commerce from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 28th. Jefferies Financial Group reiterated a "hold" rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 28th. Barclays reissued an "overweight" rating on shares of Canadian Imperial Bank of Commerce in a research report on Monday, June 1st. Weiss Ratings upgraded shares of Canadian Imperial Bank of Commerce from a "buy (b)" rating to a "buy (b+)" rating in a research note on Friday. Finally, Raymond James Financial reiterated a "market perform" rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $167.00.

Canadian Imperial Bank of Commerce Company 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.

Want to see what other hedge funds are holding CM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source