2,066,458 Shares in Canadian Imperial Bank of Commerce $CM Purchased by Deutsche Bank AG

Deutsche Bank AG bought a new stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,066,458 shares of the bank’s stock, valued at approximately $237,643,000.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Canadian Imperial Bank of Commerce in the 4th quarter worth approximately $958,383,000. Mackenzie Financial Corp grew its holdings in Canadian Imperial Bank of Commerce by 69.3% during the 4th quarter. Mackenzie Financial Corp now owns 10,800,606 shares of the bank’s stock valued at $986,173,000 after buying an additional 4,419,968 shares in the last quarter. FIL Ltd grew its holdings in Canadian Imperial Bank of Commerce by 26.1% during the 4th quarter. FIL Ltd now owns 12,756,323 shares of the bank’s stock valued at $1,156,438,000 after buying an additional 2,643,495 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Canadian Imperial Bank of Commerce by 24.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 8,897,236 shares of the bank’s stock valued at $808,281,000 after buying an additional 1,720,220 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Canadian Imperial Bank of Commerce by 39.5% in the fourth quarter. Morgan Stanley now owns 4,988,745 shares of the bank’s stock worth $452,030,000 after buying an additional 1,412,363 shares in the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CM shares. TD Securities restated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, August 12th. Barclays reiterated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Monday, June 1st. Weiss Ratings upgraded shares of Canadian Imperial Bank of Commerce from a “buy (b)” rating to a “buy (b+)” rating in a research note on Friday, July 31st. Royal Bank Of Canada increased their price objective on shares of 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. Finally, Desjardins lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Canadian Imperial Bank of Commerce currently has an average rating of “Moderate Buy” and an average target price of $167.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock opened at $121.70 on Wednesday. The stock has a market cap of $111.09 billion, a price-to-earnings ratio of 16.72, 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 quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50 day moving average price of $116.83 and a 200-day moving average price of $107.88. Canadian Imperial Bank of Commerce has a one year low of $72.57 and a one year high of $124.86.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results 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 company had revenue of $5.89 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.05 EPS. Equities analysts expect that Canadian Imperial Bank of Commerce will post 7.33 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

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

About Canadian Imperial Bank of Commerce

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.