Public Employees Retirement System of Ohio Has $4.90 Million Position in Canadian Imperial Bank of Commerce $CM

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in the Canadian Imperial Bank of Commerce by 34.5%, holding a total of 69,094 shares valued at approximately $4.90 million as of the end of the second quarter.
• Canadian Imperial Bank of Commerce announced a quarterly dividend of $0.97 per share, an increase from the previous $0.70, resulting in an annualized yield of 4.9%.
• The bank reported a quarterly earnings per share of $1.57, exceeding the estimates, with revenue reaching $5.24 billion, a 3.3% increase year-over-year.

Public Employees Retirement System of Ohio cut its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 34.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,094 shares of the bank's stock after selling 36,418 shares during the period. Public Employees Retirement System of Ohio's holdings in Canadian Imperial Bank of Commerce were worth $4,895,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CM. HM Payson & Co. bought a new position in shares of Canadian Imperial Bank of Commerce during the 1st quarter worth approximately $29,000. TruNorth Capital Management LLC raised its position in Canadian Imperial Bank of Commerce by 156.0% in the 1st quarter. TruNorth Capital Management LLC now owns 512 shares of the bank's stock valued at $29,000 after buying an additional 312 shares during the last quarter. Truvestments Capital LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 1st quarter valued at $32,000. Private Trust Co. NA increased its position in shares of Canadian Imperial Bank of Commerce by 40.0% during the 1st quarter. Private Trust Co. NA now owns 781 shares of the bank's stock valued at $44,000 after purchasing an additional 223 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Canadian Imperial Bank of Commerce by 51.1% during the 1st quarter. Farther Finance Advisors LLC now owns 902 shares of the bank's stock valued at $51,000 after purchasing an additional 305 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Trading Down 1.5%

NYSE:CM opened at $79.58 on Tuesday. The company has a 50-day moving average price of $75.98 and a 200-day moving average price of $68.60. Canadian Imperial Bank of Commerce has a 12 month low of $53.62 and a 12 month high of $82.09. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. The stock has a market cap of $73.97 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 1.72 and a beta of 1.03.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last issued its quarterly earnings results on Thursday, August 28th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.14. The company had revenue of $5.24 billion during the quarter, compared to analysts' expectations of $5.12 billion. Canadian Imperial Bank of Commerce had a net margin of 12.94% and a return on equity of 14.67%. Canadian Imperial Bank of Commerce's revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $1.93 EPS. Equities 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 28th. Investors of record on Monday, September 29th will be given a dividend of $0.97 per share. This represents a $3.88 annualized dividend and a yield of 4.9%. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.70. The ex-dividend date is Monday, September 29th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is presently 47.64%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Royal Bank Of Canada increased their price target 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. Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of "Moderate Buy" and an average price target of $107.50.

Canadian Imperial Bank of Commerce 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.

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