K.J. Harrison & Partners Inc Acquires New Stake in Canadian Imperial Bank of Commerce $CM

K.J. Harrison & Partners Inc acquired a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 132,653 shares of the bank’s stock, valued at approximately $15,246,000. Canadian Imperial Bank of Commerce accounts for approximately 2.2% of K.J. Harrison & Partners Inc’s holdings, making the stock its 7th biggest holding.

Other large investors also recently bought and sold shares of the company. Bank of Nova Scotia raised its holdings in Canadian Imperial Bank of Commerce by 0.5% during the first quarter. Bank of Nova Scotia now owns 12,683,488 shares of the bank’s stock worth $1,201,762,000 after purchasing an additional 57,210 shares in the last quarter. Mediolanum International Funds Ltd lifted its position in Canadian Imperial Bank of Commerce by 142.8% in the first quarter. Mediolanum International Funds Ltd now owns 142,455 shares of the bank’s stock valued at $13,086,000 after purchasing an additional 83,784 shares during the period. Investment Management Corp of Ontario boosted its holdings in Canadian Imperial Bank of Commerce by 38.6% in the 4th quarter. Investment Management Corp of Ontario now owns 290,749 shares of the bank’s stock valued at $26,345,000 after purchasing an additional 80,914 shares in the last quarter. Legal & General Group Plc boosted its holdings in Canadian Imperial Bank of Commerce by 2.0% in the 4th quarter. Legal & General Group Plc now owns 6,475,253 shares of the bank’s stock valued at $587,790,000 after purchasing an additional 125,069 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in Canadian Imperial Bank of Commerce by 6.5% during the 4th quarter. Intech Investment Management LLC now owns 343,828 shares of the bank’s stock worth $31,211,000 after purchasing an additional 21,078 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 NYSE:CM opened at $123.49 on Tuesday. The business’s 50 day simple moving average is $116.61 and its 200-day simple moving average is $107.68. The firm has a market capitalization of $112.73 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a 12 month low of $72.57 and a 12 month high of $124.86.

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 for the quarter, beating the consensus estimate of $1.78 by $0.08. The firm had revenue of $5.89 billion during the quarter, compared to the consensus estimate of $5.86 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.Canadian Imperial Bank of Commerce’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the business posted $2.05 EPS. As a group, equities analysts forecast that Canadian Imperial Bank of Commerce will post 7.33 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 28th. Stockholders of record on Monday, June 29th were given a $1.07 dividend. The ex-dividend date was Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.5%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 42.58%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 28th. Barclays restated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, June 1st. Royal Bank Of Canada raised their target price on Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Zacks Research lowered shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.