Canadian Imperial Bank of Commerce $CM Shares Acquired by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC boosted its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 21.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 121,405 shares of the bank’s stock after acquiring an additional 21,804 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Canadian Imperial Bank of Commerce were worth $9,703,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. American Century Companies Inc. increased its position in shares of Canadian Imperial Bank of Commerce by 10.8% during the second quarter. American Century Companies Inc. now owns 348,986 shares of the bank’s stock valued at $24,772,000 after acquiring an additional 33,908 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Canadian Imperial Bank of Commerce by 4.4% in the 2nd quarter. Legal & General Group Plc now owns 6,183,439 shares of the bank’s stock worth $438,056,000 after acquiring an additional 262,675 shares during the last quarter. Westerkirk Capital Inc. purchased a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth approximately $3,379,000. Cumberland Partners Ltd boosted its position in shares of Canadian Imperial Bank of Commerce by 50.0% during the 2nd quarter. Cumberland Partners Ltd now owns 14,407 shares of the bank’s stock worth $1,021,000 after purchasing an additional 4,800 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Canadian Imperial Bank of Commerce by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 41,410,285 shares of the bank’s stock valued at $2,939,385,000 after purchasing an additional 1,382,123 shares during the last quarter. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CM. Weiss Ratings reissued a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, January 21st. Barclays raised Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research note on Thursday, February 19th. Zacks Research upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 4th. Finally, Raymond James Financial assumed coverage on Canadian Imperial Bank of Commerce in a research note on Tuesday, November 25th. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM opened at $97.89 on Tuesday. The company has a market cap of $90.49 billion, a P/E ratio of 14.27, a PEG ratio of 1.03 and a beta of 1.00. Canadian Imperial Bank of Commerce has a fifty-two week low of $53.62 and a fifty-two week high of $105.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. The firm’s 50 day moving average price is $95.13 and its 200 day moving average price is $87.63.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Thursday, February 26th. The bank reported $1.99 EPS for the quarter, beating the consensus estimate of $1.74 by $0.25. The company had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $5.53 billion. Canadian Imperial Bank of Commerce had a net margin of 15.15% and a return on equity of 15.20%. The firm’s revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.20 EPS. On average, research analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Friday, March 27th will be paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 44.61%.

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.