Dimensional Fund Advisors LP Boosts Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Dimensional Fund Advisors LP raised its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 10.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,950,107 shares of the bank’s stock after buying an additional 280,994 shares during the quarter. Dimensional Fund Advisors LP owned about 0.31% of Canadian Imperial Bank of Commerce worth $140,264,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Canadian Imperial Bank of Commerce by 4.1% during the fourth quarter. Vanguard Group Inc. now owns 35,237,455 shares of the bank’s stock worth $1,696,331,000 after buying an additional 1,395,600 shares in the last quarter. M&G Plc purchased a new position in Canadian Imperial Bank of Commerce during the first quarter worth about $8,221,000. Cetera Advisors LLC purchased a new position in shares of Canadian Imperial Bank of Commerce in the 1st quarter worth about $1,278,000. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Canadian Imperial Bank of Commerce by 1,091.2% in 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 in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 47.0% in 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 in the last quarter. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Desjardins upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 2nd. UBS Group began coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, July 2nd. They issued a “neutral” rating for the company. BMO Capital Markets increased their target price on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the company an “outperform” rating in a report on Friday, August 30th. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday, August 30th. Finally, Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.00.

Canadian Imperial Bank of Commerce Trading Up 0.0 %

CM opened at $61.68 on Friday. The business has a 50 day simple moving average of $54.38 and a two-hundred day simple moving average of $50.72. The firm has a market capitalization of $58.17 billion, a price-to-earnings ratio of 12.69, a PEG ratio of 1.85 and a beta of 1.07. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.06 and a quick ratio of 1.06. Canadian Imperial Bank of Commerce has a one year low of $34.35 and a one year high of $62.01.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, August 29th. The bank reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.19. Canadian Imperial Bank of Commerce had a return on equity of 13.63% and a net margin of 10.66%. The firm had revenue of $6.60 billion during the quarter, compared to analyst estimates of $6.28 billion. During the same quarter in the prior year, the company earned $1.14 EPS. The business’s revenue was up 12.9% compared to the same quarter last year. Analysts predict that Canadian Imperial Bank of Commerce will post 5.36 EPS for the current year.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be given a $0.652 dividend. This represents a $2.61 annualized dividend and a dividend yield of 4.23%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 54.73%.

Canadian Imperial Bank of Commerce 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.