Kepler Cheuvreux Suisse SA Takes Position in Canadian Imperial Bank of Commerce $CM

Kepler Cheuvreux Suisse SA acquired a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 139,918 shares of the bank’s stock, valued at approximately $11,178,000.

Other large investors have also recently made changes to their positions in the company. Salem Investment Counselors Inc. acquired a new stake in Canadian Imperial Bank of Commerce in the third quarter valued at approximately $30,000. Toth Financial Advisory Corp acquired a new position in Canadian Imperial Bank of Commerce during the 3rd quarter worth approximately $32,000. AdvisorNet Financial Inc grew its holdings in Canadian Imperial Bank of Commerce by 300.0% during the 3rd quarter. AdvisorNet Financial Inc now owns 400 shares of the bank’s stock worth $32,000 after acquiring an additional 300 shares in the last quarter. Grey Fox Wealth Advisors LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at approximately $34,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 2nd quarter valued at $35,000. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CM shares. Zacks Research raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 4th. Weiss Ratings restated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, January 21st. Raymond James Financial initiated coverage on Canadian Imperial Bank of Commerce in a research report on Tuesday, November 25th. They set a “market perform” rating for the company. Finally, Barclays raised Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of “Moderate Buy” and an average target price of $107.50.

Canadian Imperial Bank of Commerce Trading Up 1.5%

NYSE CM opened at $99.37 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.02 and a quick ratio of 1.02. The firm’s fifty day moving average price is $95.29 and its 200 day moving average price is $87.82. The company has a market capitalization of $91.86 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 1.01 and a beta of 1.00. Canadian Imperial Bank of Commerce has a 12 month low of $53.62 and a 12 month high of $105.00.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, February 26th. The bank reported $1.99 EPS for the quarter, topping the consensus estimate of $1.74 by $0.25. Canadian Imperial Bank of Commerce had a net margin of 15.15% and a return on equity of 15.20%. The firm had revenue of $6.16 billion for the quarter, compared to analyst estimates of $5.53 billion. During the same period last year, the business earned $2.20 EPS. Canadian Imperial Bank of Commerce’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, sell-side analysts expect that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Friday, March 27th will be given a dividend of $1.07 per share. The ex-dividend date is Friday, March 27th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.3%. Canadian Imperial Bank of Commerce’s payout ratio is 44.61%.

Canadian Imperial Bank of Commerce Company 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.