1,471,188 Shares in Canadian Imperial Bank of Commerce $CM Acquired by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp bought a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,471,188 shares of the bank’s stock, valued at approximately $169,356,000. Canadian Imperial Bank of Commerce accounts for about 1.0% of OMERS ADMINISTRATION Corp’s portfolio, making the stock its 22nd biggest holding.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC boosted its position in Canadian Imperial Bank of Commerce by 1.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 9,716 shares of the bank’s stock worth $880,000 after acquiring an additional 114 shares during the period. Sivia Capital Partners LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 3.1% during the fourth quarter. Sivia Capital Partners LLC now owns 3,832 shares of the bank’s stock valued at $347,000 after purchasing an additional 116 shares during the period. Parallel Advisors LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 3.5% during the third quarter. Parallel Advisors LLC now owns 3,404 shares of the bank’s stock valued at $272,000 after purchasing an additional 116 shares during the period. McIlrath & Eck LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 7.1% during the fourth quarter. McIlrath & Eck LLC now owns 1,936 shares of the bank’s stock valued at $175,000 after purchasing an additional 128 shares during the period. Finally, Fifth Third Bancorp raised its stake in shares of Canadian Imperial Bank of Commerce by 12.7% during the fourth quarter. Fifth Third Bancorp now owns 1,337 shares of the bank’s stock valued at $121,000 after purchasing an additional 151 shares in the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Down 0.1%

Shares of CM stock opened at $116.38 on Monday. Canadian Imperial Bank of Commerce has a 1 year low of $72.57 and a 1 year high of $124.86. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05. The business’s fifty day moving average is $117.13 and its 200-day moving average is $108.36. The stock has a market cap 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) (TSE:CM) last announced its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The business had revenue of $5.89 billion during the quarter, compared to analyst estimates of $5.86 billion. During the same quarter in the prior year, the firm posted $2.05 earnings per share. The company’s revenue was up 14.0% on a year-over-year basis. Equities analysts expect that Canadian Imperial Bank of Commerce will post 7.41 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Desjardins downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Tuesday, August 4th. Scotiabank reissued an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, June 16th. Jefferies Financial Group restated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 28th. Keefe, Bruyette & Woods assumed coverage on shares of Canadian Imperial Bank of Commerce in a research note on Friday. They issued a “market perform” rating for the company. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $167.00.

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.