Mediolanum International Funds Ltd Increases Stake in Canadian Imperial Bank of Commerce $CM

Mediolanum International Funds Ltd boosted its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 83.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 81,706 shares of the bank’s stock after acquiring an additional 37,169 shares during the period. Mediolanum International Funds Ltd’s holdings in Canadian Imperial Bank of Commerce were worth $5,716,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CM. Ameritas Advisory Services LLC bought a new stake in shares of Canadian Imperial Bank of Commerce in the second quarter valued at approximately $34,000. Atlantic Union Bankshares Corp purchased a new position in Canadian Imperial Bank of Commerce in the 2nd quarter valued at approximately $35,000. Truvestments Capital LLC bought a new stake in Canadian Imperial Bank of Commerce during the 1st quarter valued at $32,000. MAI Capital Management lifted its position in shares of Canadian Imperial Bank of Commerce by 57.5% during the second quarter. MAI Capital Management now owns 737 shares of the bank’s stock worth $52,000 after acquiring an additional 269 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce by 1,177.8% in the second quarter. Penserra Capital Management LLC now owns 1,035 shares of the bank’s stock worth $72,000 after acquiring an additional 954 shares during the period. Institutional investors own 49.88% of the company’s stock.

Analyst Upgrades and Downgrades

CM has been the topic of a number of analyst reports. Royal Bank Of Canada boosted their price objective on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the company an “outperform” rating in a research note on Friday, August 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.50.

Canadian Imperial Bank of Commerce Price Performance

NYSE:CM opened at $84.02 on Friday. Canadian Imperial Bank of Commerce has a 52-week low of $53.62 and a 52-week high of $87.37. The stock has a fifty day moving average of $82.23 and a 200 day moving average of $75.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $78.03 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 1.76 and a beta of 1.03.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, August 28th. The bank reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.12 billion. During the same period in the prior year, the company earned $1.93 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, research analysts expect 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 was paid on Tuesday, October 28th. Shareholders of record on Monday, September 29th were given a dividend of $0.97 per share. The ex-dividend date was Monday, September 29th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. This represents a $3.88 annualized dividend and a yield of 4.6%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 47.64%.

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.