Jupiter Topco LLC Invests $10.87 Million in Canadian Imperial Bank of Commerce $CM

Jupiter Topco LLC purchased a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 94,559 shares of the bank’s stock, valued at approximately $10,870,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CM. Bristol Gate Capital Partners Inc. purchased a new stake in shares of Canadian Imperial Bank of Commerce in the second quarter valued at $579,000. Hsbc Holdings PLC purchased a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter worth about $799,000. PDT Partners LLC acquired a new stake in Canadian Imperial Bank of Commerce during the 2nd quarter worth about $9,221,000. Canada Pension Plan Investment Board purchased a new position in Canadian Imperial Bank of Commerce during the 2nd quarter valued at about $927,219,000. Finally, Legal & General Group Plc acquired a new position in shares of Canadian Imperial Bank of Commerce in the 2nd quarter valued at about $773,685,000. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented 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. Desjardins cut shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Tuesday, August 4th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday. Scotiabank restated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, June 16th. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $167.00.

Canadian Imperial Bank of Commerce Stock Performance

CM opened at $114.46 on Friday. 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 $104.48 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 1.19 and a beta of 1.01. The stock has a 50-day moving average of $117.46 and a 200-day moving average of $109.00. Canadian Imperial Bank of Commerce has a 52-week low of $76.10 and a 52-week high of $124.86.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its earnings results on Thursday, August 27th. The bank reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.16. The firm had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.74 billion. Canadian Imperial Bank of Commerce had a return on equity of 17.07% and a net margin of 16.09%. As a group, equities research analysts forecast that Canadian Imperial Bank of Commerce will post 7.41 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Monday, September 28th will be paid a $1.07 dividend. The ex-dividend date is Monday, September 28th. This represents a $4.28 dividend on an annualized basis and a yield of 3.7%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 42.58%.

Canadian Imperial Bank of Commerce News Summary

Here are the key news stories impacting Canadian Imperial Bank of Commerce this week:

• Positive Sentiment: Adjusted third-quarter earnings per share rose 26% year over year to $2.73, marking CIBC’s ninth consecutive quarter of double-digit EPS growth. Adjusted net income increased to C$2.648 billion on revenue of C$8.368 billion, while return on equity reached 16.8%. CIBC Notches a Ninth Straight Quarter of Double-Digit Growth
• Positive Sentiment: Profit exceeded analyst expectations, supported by growth in domestic retail banking, capital markets and CIBC’s U.S. operations. Reported quarterly earnings reached C$2.41 billion, up from C$2.1 billion a year earlier. CIBC Beats Profit Forecast on Growth in Domestic Banking
• Positive Sentiment: CIBC declared a quarterly dividend of C$1.07 per share, payable October 28 to shareholders of record September 28. The dividend supports an annualized yield of approximately 3.7% and may appeal to income-focused investors.
• Neutral Sentiment: Analysts’ recent price targets remain above the current trading range, with targets of C$144, C$157 and C$167. However, these targets predate the latest earnings reaction and may not yet reflect investor concerns about capital and one-time costs.
• Negative Sentiment: The quarter included C$269 million in charges related to the announced sale of CIBC Caribbean Bank. The bank’s CET1 capital ratio also declined to 13.4% from 13.6%, partly because of the charge, a minority investment closing and share repurchases. Those factors offset the operating-profit beat and contributed to the weaker market response. CIBC Slides After Earnings as Sale Charge and Capital Ratio Dip Offset a Profit Beat

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.