Capital International Ltd. CA Purchases 11,231 Shares of Canadian Imperial Bank of Commerce $CM

Capital International Ltd. CA lifted its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 27.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,126 shares of the bank’s stock after acquiring an additional 11,231 shares during the quarter. Capital International Ltd. CA’s holdings in Canadian Imperial Bank of Commerce were worth $4,166,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Salem Investment Counselors Inc. bought a new position in Canadian Imperial Bank of Commerce in the third quarter worth approximately $30,000. Toth Financial Advisory Corp purchased a new position in shares of Canadian Imperial Bank of Commerce during the third quarter worth $32,000. AdvisorNet Financial Inc lifted its position in Canadian Imperial Bank of Commerce by 300.0% during the third quarter. AdvisorNet Financial Inc now owns 400 shares of the bank’s stock valued at $32,000 after purchasing an additional 300 shares during the period. Grey Fox Wealth Advisors LLC acquired a new stake in Canadian Imperial Bank of Commerce during the 3rd quarter worth about $34,000. Finally, Guerra Advisors Inc purchased a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Raymond James Financial started coverage on Canadian Imperial Bank of Commerce in a research note on Tuesday, November 25th. They issued a “market perform” rating on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, January 21st. Barclays raised shares of Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research note on Thursday, February 19th. Finally, Zacks Research upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 4th. One 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.50.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock opened at $97.89 on Tuesday. Canadian Imperial Bank of Commerce has a 12 month low of $53.62 and a 12 month high of $105.00. The business has a 50-day moving average of $95.13 and a 200 day moving average of $87.63. 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 stock has a market capitalization of $90.49 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 1.03 and a beta of 1.00.

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

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Friday, March 27th will be given a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 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.