Mn Services Vermogensbeheer B.V. Raises Holdings in Canadian Imperial Bank of Commerce $CM

Mn Services Vermogensbeheer B.V. grew its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 16.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 215,276 shares of the bank’s stock after purchasing an additional 30,776 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Canadian Imperial Bank of Commerce were worth $19,541,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CM. Sivia Capital Partners LLC purchased a new stake in Canadian Imperial Bank of Commerce during the 2nd quarter worth approximately $262,000. Choreo LLC raised its holdings in shares of Canadian Imperial Bank of Commerce by 8.2% in the second quarter. Choreo LLC now owns 4,059 shares of the bank’s stock worth $290,000 after buying an additional 307 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the second quarter worth $43,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Canadian Imperial Bank of Commerce by 154.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 7,234 shares of the bank’s stock worth $512,000 after buying an additional 4,390 shares during the period. Finally, Fisher Asset Management LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce during the second quarter valued at $88,610,000. 49.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CM shares. Zacks Research raised Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 4th. Barclays raised Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research report on Thursday, February 19th. Finally, Weiss Ratings raised Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, March 10th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

Canadian Imperial Bank of Commerce Stock Performance

Shares of NYSE CM opened at $94.71 on Wednesday. The company has a 50 day simple moving average of $96.59 and a two-hundred day simple moving average of $89.77. The stock has a market cap of $87.55 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 0.95 and a beta of 1.00. The company has a current ratio of 1.02, a quick ratio of 1.02 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 $105.00.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Thursday, February 26th. The bank reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.25. Canadian Imperial Bank of Commerce had a net margin of 15.15% and a return on equity of 15.69%. The firm had revenue of $6.16 billion for the quarter, compared to analyst estimates of $5.53 billion. During the same quarter in the prior year, the business earned $2.20 earnings per share. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, analysts predict 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 business 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. This represents a $4.28 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 45.77%.

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.