DekaBank Deutsche Girozentrale Boosts Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

DekaBank Deutsche Girozentrale grew its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 10.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 227,074 shares of the bank’s stock after buying an additional 21,718 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Canadian Imperial Bank of Commerce were worth $10,923,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 35,237,455 shares of the bank’s stock worth $1,696,331,000 after purchasing an additional 1,395,600 shares during the period. M&G Plc purchased a new position in shares of Canadian Imperial Bank of Commerce during the 1st quarter worth approximately $8,221,000. Cetera Advisors LLC purchased a new position in shares of Canadian Imperial Bank of Commerce during the 1st quarter worth approximately $1,278,000. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Canadian Imperial Bank of Commerce by 1,091.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 267,124 shares of the bank’s stock worth $13,477,000 after purchasing an additional 244,700 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 47.0% during the 4th quarter. Principal Financial Group Inc. now owns 68,300 shares of the bank’s stock worth $3,305,000 after purchasing an additional 21,833 shares during the period. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM opened at $61.53 on Tuesday. Canadian Imperial Bank of Commerce has a twelve month low of $34.35 and a twelve month high of $61.90. The firm’s fifty day simple moving average is $53.38 and its 200-day simple moving average is $50.37. The firm has a market capitalization of $58.02 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.85 and a beta of 1.07. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, August 29th. The bank reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. Canadian Imperial Bank of Commerce had a net margin of 10.66% and a return on equity of 13.63%. The business had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.28 billion. During the same period last year, the business earned $1.14 EPS. The company’s revenue was up 12.9% on a year-over-year basis. Equities analysts forecast that Canadian Imperial Bank of Commerce will post 5.36 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be paid a dividend of $0.652 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.61 annualized dividend and a yield of 4.24%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 54.73%.

Analyst Ratings Changes

Several brokerages have commented on CM. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday, August 30th. Cormark raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 30th. BMO Capital Markets raised their price target on shares of Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Desjardins raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 2nd. Finally, Keefe, Bruyette & Woods raised shares of Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a research report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $81.00.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.