Van ECK Associates Corp Buys 104,701 Shares of Canadian Imperial Bank of Commerce $CM

Van ECK Associates Corp grew its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 25.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 521,017 shares of the bank’s stock after acquiring an additional 104,701 shares during the quarter. Van ECK Associates Corp owned about 0.06% of Canadian Imperial Bank of Commerce worth $41,625,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Capital International Sarl grew its stake in Canadian Imperial Bank of Commerce by 7.0% in the third quarter. Capital International Sarl now owns 50,976 shares of the bank’s stock valued at $4,074,000 after purchasing an additional 3,348 shares during the last quarter. Capital International Ltd. CA lifted its position in shares of Canadian Imperial Bank of Commerce by 27.5% during the third quarter. Capital International Ltd. CA now owns 52,126 shares of the bank’s stock valued at $4,166,000 after buying an additional 11,231 shares during the last quarter. Capital International Inc. CA boosted its holdings in shares of Canadian Imperial Bank of Commerce by 3.1% in the 3rd quarter. Capital International Inc. CA now owns 56,924 shares of the bank’s stock valued at $4,549,000 after buying an additional 1,733 shares in the last quarter. Capital International Investors boosted its holdings in shares of Canadian Imperial Bank of Commerce by 2.0% in the 3rd quarter. Capital International Investors now owns 4,138,483 shares of the bank’s stock valued at $330,704,000 after buying an additional 79,591 shares in the last quarter. Finally, Legal & General Group Plc grew its position in shares of Canadian Imperial Bank of Commerce by 2.7% in the 3rd quarter. Legal & General Group Plc now owns 6,350,184 shares of the bank’s stock worth $507,551,000 after buying an additional 166,745 shares during the last quarter. 49.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Barclays upgraded shares of Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research note on Thursday, February 19th. Zacks Research raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 4th. Weiss Ratings raised Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Tuesday. Finally, Raymond James Financial started coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, November 25th. They set a “market perform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $107.50.

Canadian Imperial Bank of Commerce Stock Down 0.3%

Canadian Imperial Bank of Commerce stock opened at $99.09 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The business’s 50-day simple moving average is $95.46 and its two-hundred day simple moving average is $87.90. The company has a market cap of $91.60 billion, a PE ratio of 14.44, a PEG ratio of 1.03 and a beta of 1.00. Canadian Imperial Bank of Commerce has a fifty-two week low of $53.62 and a fifty-two week high of $105.00.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, February 26th. The bank reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.25. Canadian Imperial Bank of Commerce had a return on equity of 15.20% and a net margin of 15.15%.The firm had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $5.53 billion. During the same period last year, the business posted $2.20 earnings per share. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, March 27th. This represents a $4.28 dividend on an annualized basis and a yield of 4.3%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 45.63%.

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.