Ninepoint Partners LP Invests $2.83 Million in Canadian Imperial Bank of Commerce (NYSE:CM)

Ninepoint Partners LP purchased a new stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 50,209 shares of the bank's stock, valued at approximately $2,827,000. Canadian Imperial Bank of Commerce accounts for about 0.4% of Ninepoint Partners LP's portfolio, making the stock its 26th largest position.

A number of other large investors also recently added to or reduced their stakes in CM. Norges Bank purchased a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $570,477,000. Capital International Investors acquired a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at $424,386,000. FIL Ltd grew its position in shares of Canadian Imperial Bank of Commerce by 53.6% in the 4th quarter. FIL Ltd now owns 12,387,607 shares of the bank's stock valued at $783,613,000 after buying an additional 4,321,451 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 37.3% in the 4th quarter. JPMorgan Chase & Co. now owns 8,043,106 shares of the bank's stock valued at $508,566,000 after purchasing an additional 2,185,262 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of 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 valued at $431,952,000 after purchasing an additional 1,990,520 shares during the period. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Up 0.3%

Canadian Imperial Bank of Commerce stock traded up $0.23 during midday trading on Friday, hitting $73.99. 931,016 shares of the company were exchanged, compared to its average volume of 1,218,254. 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 fifty-two week low of $47.55 and a fifty-two week high of $74.63. The company's fifty day moving average price is $70.11 and its 200-day moving average price is $63.71. The company has a market cap of $68.92 billion, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.60 and a beta of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last issued its quarterly earnings data on Thursday, May 29th. The bank reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.10. The firm had revenue of $5.09 billion for the quarter, compared to analyst estimates 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 revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.75 EPS. On average, research analysts predict that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, June 27th will be paid a $0.7024 dividend. This represents a $2.81 dividend on an annualized basis and a yield of 3.80%. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. The ex-dividend date is Friday, June 27th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is presently 49.56%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Scotiabank started 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. Royal Bank Of Canada upped their price target on shares of Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. National Bank Financial lowered Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. BMO Capital Markets lifted their price objective on 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. Finally, Wall Street Zen cut Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a report on Friday, July 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of "Hold" and a consensus price target 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.