PensionDanmark Pensionsforsikringsaktieselskab Acquires 18,100 Shares of Canadian Imperial Bank of Commerce $CM

PensionDanmark Pensionsforsikringsaktieselskab boosted its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 8.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 222,010 shares of the bank’s stock after acquiring an additional 18,100 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Canadian Imperial Bank of Commerce were worth $25,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CM. Larson Financial Group LLC grew its position in shares of Canadian Imperial Bank of Commerce by 119.7% in the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock worth $32,000 after buying an additional 219 shares during the last quarter. EFG International AG purchased a new stake in Canadian Imperial Bank of Commerce in the fourth quarter worth $35,000. Global Assets Advisory LLC bought a new stake in Canadian Imperial Bank of Commerce in the first quarter valued at $54,000. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its position in Canadian Imperial Bank of Commerce by 87.0% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock valued at $69,000 after purchasing an additional 400 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in Canadian Imperial Bank of Commerce by 2,758.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 829 shares of the bank’s stock worth $75,000 after purchasing an additional 800 shares in the last quarter. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Price Performance

CM opened at $118.34 on Friday. The stock has a 50-day moving average price of $114.83 and a 200-day moving average price of $106.25. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $108.03 billion, a PE ratio of 16.26, a P/E/G ratio of 1.29 and a beta of 1.01. Canadian Imperial Bank of Commerce has a 1 year low of $71.78 and a 1 year high of $122.50.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.08. The business had revenue of $5.89 billion for the quarter, compared to analysts’ expectations of $5.86 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.05 EPS. Sell-side analysts predict that Canadian Imperial Bank of Commerce will post 7.35 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 28th. Stockholders of record on Monday, June 29th were given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, June 29th. Canadian Imperial Bank of Commerce’s payout ratio is presently 42.58%.

Analyst Ratings Changes

Several equities analysts recently issued reports on CM shares. Zacks Research cut shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Weiss Ratings raised Canadian Imperial Bank of Commerce from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, July 31st. Barclays reiterated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Monday, June 1st. Jefferies Financial Group restated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 28th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, June 16th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $167.00.

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.