Mn Services Vermogensbeheer B.V. Acquires 6,100 Shares of Canadian Imperial Bank of Commerce $CM

Key Points

• Mn Services Vermogensbeheer B.V. increased its stake in Canadian Imperial Bank of Commerce by 3.5% during the second quarter, owning a total of 180,300 shares worth approximately $12.77 million.
• Canadian Imperial Bank of Commerce reported $1.57 earnings per share for the latest quarter, exceeding analysts' expectations and highlighting a 3.3% revenue increase year-over-year.
• The bank announced a dividend increase to $0.97 per share, representing a yield of 4.8%, effective from October 28th, with a payout ratio of 47.64%.

Mn Services Vermogensbeheer B.V. raised its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 3.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 180,300 shares of the bank's stock after buying an additional 6,100 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Canadian Imperial Bank of Commerce were worth $12,772,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of CM. Ameriprise Financial Inc. increased its position in shares of Canadian Imperial Bank of Commerce by 2.3% in the fourth quarter. Ameriprise Financial Inc. now owns 29,735 shares of the bank's stock worth $1,880,000 after purchasing an additional 663 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Canadian Imperial Bank of Commerce by 2.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,179,347 shares of the bank's stock valued at $74,570,000 after buying an additional 32,036 shares in the last quarter. Vise Technologies Inc. raised its position in shares of Canadian Imperial Bank of Commerce by 30.0% during the 4th quarter. Vise Technologies Inc. now owns 19,805 shares of the bank's stock valued at $1,252,000 after buying an additional 4,566 shares in the last quarter. Forum Financial Management LP raised its position in shares of Canadian Imperial Bank of Commerce by 22.7% during the 4th quarter. Forum Financial Management LP now owns 6,499 shares of the bank's stock valued at $411,000 after buying an additional 1,203 shares in the last quarter. Finally, Mackenzie Financial Corp raised its position in shares of Canadian Imperial Bank of Commerce by 41.1% during the 4th quarter. Mackenzie Financial Corp now owns 6,835,795 shares of the bank's stock valued at $431,952,000 after buying an additional 1,990,520 shares in the last quarter. 49.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CM has been the subject of several research analyst reports. National Bank Financial lowered Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Wall Street Zen raised Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. BMO Capital Markets upped their target price on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Finally, Royal Bank Of Canada upped their target price on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of "Moderate Buy" and an average price target of $107.50.

Canadian Imperial Bank of Commerce Trading Down 0.4%

CM stock traded down $0.29 during midday trading on Monday, hitting $81.30. The company had a trading volume of 1,452,259 shares, compared to its average volume of 1,199,187. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a 52 week low of $53.62 and a 52 week high of $81.70. The stock's 50 day moving average price is $75.21 and its 200 day moving average price is $67.73. The stock has a market cap of $75.58 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 1.76 and a beta of 1.03.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last announced its quarterly earnings data on Thursday, August 28th. The bank reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.14. Canadian Imperial Bank of Commerce had a return on equity of 14.67% and a net margin of 12.94%.The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter in the previous year, the company posted $1.93 earnings per share. The business's revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts expect that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 28th. Investors of record on Monday, September 29th will be issued a dividend of $0.97 per share. The ex-dividend date is Monday, September 29th. This represents a $3.88 dividend on an annualized basis and a yield of 4.8%. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.70. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is presently 47.64%.

Canadian Imperial Bank of Commerce Company Profile

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.