PBU The Pension Fund of Early Childhood & Youth Educators Purchases New Position in Canadian Imperial Bank of Commerce $CM

PBU The Pension Fund of Early Childhood & Youth Educators purchased a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 23,346 shares of the bank’s stock, valued at approximately $2,115,000.

Several other institutional investors have also bought and sold shares of the stock. Sequoia Financial Advisors LLC boosted its stake in Canadian Imperial Bank of Commerce by 1.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 9,716 shares of the bank’s stock valued at $880,000 after buying an additional 114 shares in the last quarter. Sivia Capital Partners LLC boosted its stake in Canadian Imperial Bank of Commerce by 3.1% in the 4th quarter. Sivia Capital Partners LLC now owns 3,832 shares of the bank’s stock valued at $347,000 after buying an additional 116 shares in the last quarter. Parallel Advisors LLC boosted its stake in Canadian Imperial Bank of Commerce by 3.5% in the 3rd quarter. Parallel Advisors LLC now owns 3,404 shares of the bank’s stock valued at $272,000 after buying an additional 116 shares in the last quarter. McIlrath & Eck LLC boosted its stake in Canadian Imperial Bank of Commerce by 7.1% in the 4th quarter. McIlrath & Eck LLC now owns 1,936 shares of the bank’s stock valued at $175,000 after buying an additional 128 shares in the last quarter. Finally, Bridgewater Advisors Inc. boosted its stake in Canadian Imperial Bank of Commerce by 4.2% in the 4th quarter. Bridgewater Advisors Inc. now owns 3,402 shares of the bank’s stock valued at $311,000 after buying an additional 138 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Analysts Set New Price Targets

CM has been the topic of a number of recent analyst reports. Raymond James Financial reissued a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Royal Bank Of Canada boosted their price objective on Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Zacks Research lowered Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Jefferies Financial Group reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 28th. Finally, Scotiabank lowered Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $167.00.

Canadian Imperial Bank of Commerce Trading Down 0.1%

CM stock opened at $108.99 on Friday. The company has a market cap of $99.49 billion, a P/E ratio of 14.97, a PEG ratio of 1.17 and a beta of 1.02. Canadian Imperial Bank of Commerce has a twelve month low of $67.46 and a twelve month high of $117.05. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. The business has a fifty day moving average of $107.14 and a 200-day moving average of $98.20.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its 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 the consensus estimate of $5.86 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.05 earnings per share. As a group, equities research analysts expect that Canadian Imperial Bank of Commerce will post 7.43 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Monday, June 29th will be given a dividend of $1.07 per share. The ex-dividend date is Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.9%. Canadian Imperial Bank of Commerce’s payout ratio is presently 43.13%.

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.