Quantbot Technologies LP Takes Position in Canadian Imperial Bank of Commerce $CM

Key Points

• Quantbot Technologies LP acquired 38,448 shares of Canadian Imperial Bank of Commerce during the second quarter, valued at approximately $4.42 million. Institutional investors collectively own 49.88% of CIBC’s stock.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $167. Five analysts rate the stock a Buy, while five rate it a Hold.
• CIBC exceeded quarterly earnings expectations, reporting $1.86 in EPS and $5.89 billion in revenue, with revenue up 14% year over year. The bank also pays a quarterly dividend of $1.07 per share, representing a 3.7% annualized yield.

Quantbot Technologies LP acquired a new position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 38,448 shares of the bank's stock, valued at approximately $4,422,000.

Several other institutional investors have also recently made changes to their positions in the business. Bell Investment Advisors Inc acquired a new stake in Canadian Imperial Bank of Commerce during the 2nd quarter worth about $36,000. EFG International AG acquired a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at about $35,000. Larson Financial Group LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 119.7% in the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the bank's stock valued at $32,000 after buying an additional 219 shares during the period. Global Assets Advisory LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce in the first quarter worth about $54,000. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Canadian Imperial Bank of Commerce by 2,758.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 829 shares of the bank's stock worth $75,000 after buying an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 49.88% of the company's stock.

Wall Street Analysts Forecast Growth

CM has been the subject of several recent research reports. TD Securities reiterated a "buy" rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, August 12th. Zacks Research lowered Canadian Imperial Bank of Commerce from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. Raymond James Financial reaffirmed a "market perform" rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Jefferies Financial Group reaffirmed a "hold" rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 28th. Finally, Keefe, Bruyette & Woods started coverage on shares of Canadian Imperial Bank of Commerce in a research note on Friday. They issued a "market perform" rating for the company. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $167.00.

Canadian Imperial Bank of Commerce Price Performance

NYSE:CM opened at $116.38 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. Canadian Imperial Bank of Commerce has a 52 week low of $72.57 and a 52 week high of $124.86. The stock's 50-day moving average price is $117.13 and its 200-day moving average price is $108.36. The stock has a market capitalization of $106.24 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 1.22 and a beta of 1.01.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last released its quarterly earnings results on Thursday, May 28th. The bank reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates of $1.78 by $0.08. The company had revenue of $5.89 billion during the quarter, compared to analysts' expectations of $5.86 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.Canadian Imperial Bank of Commerce's quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.05 EPS. As a group, equities analysts expect that Canadian Imperial Bank of Commerce will post 7.41 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 28th. Stockholders of record on Monday, June 29th were paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, June 29th. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 42.58%.

Canadian Imperial Bank of Commerce 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.

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