TD Waterhouse Canada Inc. Increases Position in Canadian Imperial Bank of Commerce $CM

TD Waterhouse Canada Inc. lifted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,366,305 shares of the bank’s stock after purchasing an additional 101,186 shares during the quarter. Canadian Imperial Bank of Commerce accounts for 1.9% of TD Waterhouse Canada Inc.’s portfolio, making the stock its 8th largest position. TD Waterhouse Canada Inc. owned approximately 0.36% of Canadian Imperial Bank of Commerce worth $304,871,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Canadian Imperial Bank of Commerce by 10.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,781,516 shares of the bank’s stock worth $161,718,000 after purchasing an additional 162,292 shares in the last quarter. Lorne Steinberg Wealth Management Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 0.3% during the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 184,192 shares of the bank’s stock worth $16,722,000 after purchasing an additional 491 shares in the last quarter. Merit Financial Group LLC bought a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth $222,000. CWM LLC boosted its position in shares of Canadian Imperial Bank of Commerce by 11.0% during the fourth quarter. CWM LLC now owns 2,541 shares of the bank’s stock worth $230,000 after purchasing an additional 252 shares in the last quarter. Finally, Bridgewater Advisors Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 4.2% during the fourth quarter. Bridgewater Advisors Inc. now owns 3,402 shares of the bank’s stock worth $311,000 after purchasing an additional 138 shares in the last quarter. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Trading Down 0.1%

Shares of NYSE:CM opened at $109.12 on Monday. Canadian Imperial Bank of Commerce has a 12 month low of $58.00 and a 12 month high of $110.27. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. The company’s fifty day simple moving average is $98.73 and its 200 day simple moving average is $91.73. The firm has a market cap of $100.20 billion, a price-to-earnings ratio of 15.91, a PEG ratio of 1.13 and a beta of 1.00.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, February 26th. The bank reported $1.99 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.25. Canadian Imperial Bank of Commerce had a net margin of 15.15% and a return on equity of 15.69%. The business 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 posted $2.20 earnings per share. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. As a group, research analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 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, April 28th. Investors of record on Friday, March 27th will be issued a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 45.77%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CM. Weiss Ratings cut shares of Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday. 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. Finally, Barclays raised shares of Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

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.