Norges Bank Invests $958.38 Million in Canadian Imperial Bank of Commerce $CM

Key Points

• Norges Bank disclosed a new stake in Canadian Imperial Bank of Commerce, buying 10.57 million shares valued at about $958.4 million. The position represented 1.14% of CIBC at the end of the reporting period.
• CIBC reported better-than-expected Q2 2026 earnings, with EPS of $1.86 beating estimates and revenue of $5.89 billion topping forecasts slightly. Management also pointed to broad-based business growth and stronger trading revenue.
• The bank reinforced shareholder returns by announcing a $1.07 quarterly dividend and a new share buyback plan to repurchase up to 30 million shares. Analysts currently rate the stock a Moderate Buy with a consensus price target of $113.

Norges Bank purchased a new position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,571,669 shares of the bank's stock, valued at approximately $958,383,000. Norges Bank owned 1.14% of Canadian Imperial Bank of Commerce at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Sequoia Financial Advisors LLC raised its position in shares of Canadian Imperial Bank of Commerce by 1.2% in the fourth quarter. Sequoia Financial Advisors LLC now owns 9,716 shares of the bank's stock worth $880,000 after buying an additional 114 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Canadian Imperial Bank of Commerce by 3.5% in the third quarter. Parallel Advisors LLC now owns 3,404 shares of the bank's stock worth $272,000 after buying an additional 116 shares in the last quarter. McIlrath & Eck LLC raised its position in shares of Canadian Imperial Bank of Commerce by 7.1% in the fourth quarter. McIlrath & Eck LLC now owns 1,936 shares of the bank's stock worth $175,000 after buying an additional 128 shares in the last quarter. Bridgewater Advisors Inc. raised its position in shares of Canadian Imperial Bank of Commerce by 4.2% in the fourth quarter. Bridgewater Advisors Inc. now owns 3,402 shares of the bank's stock worth $311,000 after buying an additional 138 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Canadian Imperial Bank of Commerce by 12.7% in the fourth quarter. Fifth Third Bancorp now owns 1,337 shares of the bank's stock worth $121,000 after buying an additional 151 shares in the last quarter. Hedge funds and other institutional investors own 49.88% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CM. Barclays upgraded Canadian Imperial Bank of Commerce from an "underweight" rating to an "overweight" rating in a research report on Thursday, February 19th. Scotiabank reiterated an "outperform" rating on shares of Canadian Imperial Bank of Commerce in a research report on Monday, May 4th. Raymond James Financial reissued a "market perform" rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, May 12th. Weiss Ratings raised Canadian Imperial Bank of Commerce from a "buy (b+)" rating to a "buy (a-)" rating in a report on Friday, May 22nd. Finally, Zacks Research cut Canadian Imperial Bank of Commerce from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $113.00.

Canadian Imperial Bank of Commerce News Summary

Here are the key news stories impacting Canadian Imperial Bank of Commerce this week:

• Positive Sentiment: CIBC delivered better-than-expected Q2 2026 results, with EPS of $1.86 topping estimates and revenue of $5.89 billion also slightly ahead of forecasts. Management said the bank saw growth across all businesses, supported by stronger trading revenue and broad-based momentum. MarketBeat earnings report
• Positive Sentiment: The bank announced a new quarterly dividend of $1.07 per share, reinforcing its capital return profile and implying a dividend yield around 3.9%. Dividend announcement
• Positive Sentiment: CIBC also launched a new share buyback plan to repurchase up to 30 million shares, which can support earnings per share and signals management confidence in the stock. Buyback announcement
• Neutral Sentiment: The company is reshaping its senior leadership team to improve execution and drive North American growth, a strategic change that could help over time but is not an immediate earnings driver. Leadership changes
• Negative Sentiment: Offsetting the upbeat earnings, CIBC agreed to sell its Caribbean business for about US$1.6 billion, and the market appears to be weighing whether the transaction signals lower international growth exposure or strategic retrenchment. Caribbean sale

Canadian Imperial Bank of Commerce Stock Performance

Shares of NYSE CM opened at $108.84 on Friday. The stock has a market cap of $99.57 billion, a price-to-earnings ratio of 14.95, a P/E/G ratio of 1.14 and a beta of 1.05. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. Canadian Imperial Bank of Commerce has a 1-year low of $67.28 and a 1-year high of $117.05. The stock's 50-day moving average is $105.94 and its 200 day moving average is $97.44.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last announced its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.78 by $0.08. The company had revenue of $5.89 billion for the quarter, compared to analysts' expectations of $5.86 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.43% and a net margin of 15.84%.Canadian Imperial Bank of Commerce's revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period last year, the firm posted $2.05 EPS. On average, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 7.43 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

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

About Canadian Imperial Bank of Commerce

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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