Osmosis Investment Management UK Ltd Invests $3.69 Million in Canadian Imperial Bank of Commerce $CM

Osmosis Investment Management UK Ltd acquired a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 32,095 shares of the bank’s stock, valued at approximately $3,694,000.

Several other large investors have also bought and sold shares of the company. Sanctuary Advisors LLC bought a new position in Canadian Imperial Bank of Commerce during the second quarter valued at about $415,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter valued at about $916,774,000. Bank of Nova Scotia bought a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at about $1,297,567,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Canadian Imperial Bank of Commerce in the 2nd quarter worth approximately $1,663,000. Finally, Quantbot Technologies LP bought a new stake in shares of Canadian Imperial Bank of Commerce in the 2nd quarter worth approximately $4,422,000. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Down 0.1%

Shares of NYSE:CM opened at $116.38 on Monday. The firm has a 50 day simple moving average of $117.13 and a 200 day simple moving average of $108.36. Canadian Imperial Bank of Commerce has a 52 week low of $72.57 and a 52 week high of $124.86. 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 company has a market cap of $106.24 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 1.22 and a beta of 1.01.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. The firm had revenue of $5.89 billion for the quarter, compared to analysts’ expectations of $5.86 billion. During the same period in the previous year, the company posted $2.05 EPS. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, research analysts expect that Canadian Imperial Bank of Commerce will post 7.41 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 28th. Stockholders of record on Monday, June 29th were issued 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 dividend yield of 3.7%. Canadian Imperial Bank of Commerce’s payout ratio is currently 42.58%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CM. Raymond James Financial restated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, May 12th. TD Securities reiterated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, August 12th. Jefferies Financial Group reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 28th. Desjardins cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Tuesday, August 4th. Finally, Royal Bank Of Canada boosted their target price on Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.

Canadian Imperial Bank of Commerce 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.