Canadian Imperial Bank of Commerce $CM Shares Acquired by Lombard Odier Asset Management Switzerland SA

Lombard Odier Asset Management Switzerland SA increased its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 83.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 78,960 shares of the bank’s stock after acquiring an additional 36,000 shares during the quarter. Lombard Odier Asset Management Switzerland SA’s holdings in Canadian Imperial Bank of Commerce were worth $7,481,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CM. EFG International AG purchased a new position in Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $35,000. Larson Financial Group LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 119.7% during 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. Lodestone Wealth Management LLC acquired a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at $37,000. Global Assets Advisory LLC acquired a new position in shares of Canadian Imperial Bank of Commerce in the 1st quarter valued at $54,000. Finally, Parkside Financial Bank & Trust grew its position in shares of 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 valued at $75,000 after buying an additional 800 shares during the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CM shares. Raymond James Financial reiterated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Royal Bank Of Canada upped 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 research note on Monday, June 1st. Jefferies Financial Group reaffirmed a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 28th. Barclays reiterated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research report on Monday, June 1st. Finally, Weiss Ratings downgraded Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (b)” rating in a report on Wednesday, July 15th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM opened at $117.41 on Friday. The company’s 50 day simple moving average is $114.03 and its 200-day simple moving average is $104.47. The firm has a market cap of $107.17 billion, a PE ratio of 16.13, a price-to-earnings-growth ratio of 1.27 and a beta of 1.02. Canadian Imperial Bank of Commerce has a 12-month low of $71.00 and a 12-month high of $122.50. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, May 28th. The bank reported $1.86 EPS 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 net margin of 15.84% and a return on equity of 16.31%. Canadian Imperial Bank of Commerce’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.05 EPS. As a group, equities analysts predict that Canadian Imperial Bank of Commerce will post 7.37 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Monday, June 29th will be paid a $1.07 dividend. The ex-dividend date is Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a yield of 3.6%. Canadian Imperial Bank of Commerce’s payout ratio is currently 42.58%.

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.