Susquehanna Fundamental Investments LLC Has $35.80 Million Holdings in Canadian Imperial Bank of Commerce $CM

Susquehanna Fundamental Investments LLC lessened its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 40.4% in the second quarter, HoldingsChannel reports. The fund owned 311,300 shares of the bank’s stock after selling 210,700 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Canadian Imperial Bank of Commerce were worth $35,800,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sequoia Financial Advisors LLC lifted its holdings 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 purchasing an additional 114 shares during the last quarter. Sivia Capital Partners LLC grew its holdings 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 increased its position in Canadian Imperial Bank of Commerce by 3.5% during the 3rd quarter. Parallel Advisors LLC now owns 3,404 shares of the bank’s stock worth $272,000 after buying an additional 116 shares during the period. McIlrath & Eck LLC increased its position in Canadian Imperial Bank of Commerce by 7.1% during the 4th quarter. McIlrath & Eck LLC now owns 1,936 shares of the bank’s stock worth $175,000 after buying an additional 128 shares during the period. Finally, Fifth Third Bancorp lifted its holdings 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 worth $121,000 after buying an additional 151 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Royal Bank Of Canada reissued an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday. Weiss Ratings upgraded shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday. Keefe, Bruyette & Woods initiated coverage on Canadian Imperial Bank of Commerce in a research note on Friday, August 21st. They issued a “market perform” rating for the company. Barclays reissued an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 21st. Finally, Desjardins lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $167.00.

Key Canadian Imperial Bank of Commerce News

Here are the key news stories impacting Canadian Imperial Bank of Commerce this week:

• Positive Sentiment: Adjusted third-quarter earnings per share rose 26% year over year to $2.73, marking CIBC’s ninth consecutive quarter of double-digit EPS growth. Adjusted net income increased to C$2.648 billion on revenue of C$8.368 billion, while return on equity reached 16.8%. CIBC Notches a Ninth Straight Quarter of Double-Digit Growth
• Positive Sentiment: Profit exceeded analyst expectations, supported by growth in domestic retail banking, capital markets and CIBC’s U.S. operations. Reported quarterly earnings reached C$2.41 billion, up from C$2.1 billion a year earlier. CIBC Beats Profit Forecast on Growth in Domestic Banking
• Positive Sentiment: CIBC declared a quarterly dividend of C$1.07 per share, payable October 28 to shareholders of record September 28. The dividend supports an annualized yield of approximately 3.7% and may appeal to income-focused investors.
• Neutral Sentiment: Analysts’ recent price targets remain above the current trading range, with targets of C$144, C$157 and C$167. However, these targets predate the latest earnings reaction and may not yet reflect investor concerns about capital and one-time costs.
• Negative Sentiment: The quarter included C$269 million in charges related to the announced sale of CIBC Caribbean Bank. The bank’s CET1 capital ratio also declined to 13.4% from 13.6%, partly because of the charge, a minority investment closing and share repurchases. Those factors offset the operating-profit beat and contributed to the weaker market response. CIBC Slides After Earnings as Sale Charge and Capital Ratio Dip Offset a Profit Beat

Canadian Imperial Bank of Commerce Stock Performance

NYSE CM opened at $114.46 on Monday. The firm’s fifty day moving average price is $117.46 and its two-hundred day moving average price is $109.08. The stock has a market cap of $104.48 billion, a PE ratio of 15.28, a PEG ratio of 1.19 and a beta of 1.01. Canadian Imperial Bank of Commerce has a fifty-two week low of $76.10 and a fifty-two week 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.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, August 27th. The bank reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. The firm had revenue of $5.97 billion for the quarter, compared to analyst estimates of $5.74 billion. Canadian Imperial Bank of Commerce had a return on equity of 17.02% and a net margin of 16.09%. On average, equities analysts expect that Canadian Imperial Bank of Commerce will post 7.41 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Monday, September 28th will be given a dividend of $1.07 per share. The ex-dividend date is Monday, September 28th. This represents a $4.28 annualized dividend and a yield of 3.7%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 41.39%.

Canadian Imperial Bank of Commerce 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.