Lansforsakringar Fondforvaltning AB publ Purchases 12,025 Shares of Canadian Imperial Bank of Commerce $CM

Lansforsakringar Fondforvaltning AB publ grew its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 5.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,791 shares of the bank’s stock after purchasing an additional 12,025 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in Canadian Imperial Bank of Commerce were worth $17,327,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CM. Sivia Capital Partners LLC purchased a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter valued at about $262,000. L.M. Kohn & Company grew its holdings in shares of Canadian Imperial Bank of Commerce by 6.0% in the second quarter. L.M. Kohn & Company now owns 4,090 shares of the bank’s stock valued at $290,000 after acquiring an additional 230 shares in the last quarter. Daymark Wealth Partners LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce during the second quarter valued at approximately $392,000. Assetmark Inc. lifted its holdings in Canadian Imperial Bank of Commerce by 14.9% during the second quarter. Assetmark Inc. now owns 274,467 shares of the bank’s stock worth $19,440,000 after acquiring an additional 35,688 shares during the period. Finally, Atria Investments Inc boosted its position in Canadian Imperial Bank of Commerce by 2.5% in the second quarter. Atria Investments Inc now owns 13,883 shares of the bank’s stock worth $983,000 after purchasing an additional 336 shares during the last quarter. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CM has been the topic of a number of recent analyst reports. Zacks Research cut Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, February 3rd. Raymond James Financial initiated coverage on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, November 25th. They set a “market perform” rating for the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, January 21st. Barclays upgraded shares of Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research note on Thursday. Finally, Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Monday, November 3rd. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $107.50.

Canadian Imperial Bank of Commerce Trading Up 1.5%

Shares of Canadian Imperial Bank of Commerce stock opened at $99.56 on Monday. The company’s 50-day moving average price is $93.41 and its 200-day moving average price is $85.52. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.13. Canadian Imperial Bank of Commerce has a 12-month low of $53.62 and a 12-month high of $99.62. The company has a market cap of $92.25 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 1.29 and a beta of 1.02.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its earnings results on Thursday, December 4th. The bank reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.08. Canadian Imperial Bank of Commerce had a net margin of 13.57% and a return on equity of 14.93%. The business had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.23 billion. During the same quarter in the prior year, the firm posted $1.91 EPS. Canadian Imperial Bank of Commerce’s revenue was up 14.5% on a year-over-year basis. On average, equities analysts expect that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Monday, December 29th were paid a dividend of $1.07 per share. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. This represents a $4.28 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Monday, December 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 50.25%.

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.