First Republic Investment Management Inc. boosted its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 538,139 shares of the bank’s stock after purchasing an additional 2,813 shares during the period. First Republic Investment Management Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $50,462,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CM. Toronto Dominion Bank lifted its stake in Canadian Imperial Bank of Commerce by 34.7% in the second quarter. Toronto Dominion Bank now owns 11,741,312 shares of the bank’s stock worth $1,024,111,000 after purchasing an additional 3,025,599 shares during the last quarter. OMERS ADMINISTRATION Corp increased its position in shares of Canadian Imperial Bank of Commerce by 33.9% in the second quarter. OMERS ADMINISTRATION Corp now owns 5,120,519 shares of the bank’s stock valued at $445,158,000 after acquiring an additional 1,296,629 shares during the period. Letko Brosseau & Associates Inc. increased its position in shares of Canadian Imperial Bank of Commerce by 123.9% in the second quarter. Letko Brosseau & Associates Inc. now owns 954,335 shares of the bank’s stock valued at $82,966,000 after acquiring an additional 528,089 shares during the period. JPMorgan Chase & Co. increased its position in shares of Canadian Imperial Bank of Commerce by 84.4% in the third quarter. JPMorgan Chase & Co. now owns 1,011,551 shares of the bank’s stock valued at $94,853,000 after acquiring an additional 462,913 shares during the period. Finally, Pictet Asset Management Ltd. purchased a new position in shares of Canadian Imperial Bank of Commerce in the third quarter valued at about $28,098,000. 46.06% of the stock is owned by institutional investors and hedge funds.

CM stock opened at $82.72 on Thursday. Canadian Imperial Bank of Commerce has a 12-month low of $82.54 and a 12-month high of $100.01. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market capitalization of $36.64 billion, a price-to-earnings ratio of 8.86, a PEG ratio of 1.59 and a beta of 1.18.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, November 29th. The bank reported $3.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.73. Canadian Imperial Bank of Commerce had a net margin of 20.85% and a return on equity of 17.35%. The company had revenue of $4.45 billion for the quarter, compared to analysts’ expectations of $4.59 billion. During the same quarter in the previous year, the company earned $2.81 earnings per share. Canadian Imperial Bank of Commerce’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, equities analysts predict that Canadian Imperial Bank of Commerce will post 9.42 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 28th. Investors of record on Friday, December 28th will be given a dividend of $1.034 per share. This represents a $4.14 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend is Thursday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 44.65%.

CM has been the topic of a number of analyst reports. TheStreet cut shares of Canadian Imperial Bank of Commerce from a “b-” rating to a “c+” rating in a research report on Wednesday, October 10th. ValuEngine cut shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Thursday, October 18th. Barclays restated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research report on Friday, November 16th. Zacks Investment Research cut shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. Finally, Canaccord Genuity restated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, November 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $121.33.

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Canadian Imperial Bank of Commerce Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

Further Reading: Why do companies issue stock splits?

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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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