Man Group plc Acquires Shares of 38,558 Canadian Imperial Bank of Commerce $CM

Man Group plc acquired a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 38,558 shares of the bank’s stock, valued at approximately $4,434,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Larson Financial Group LLC increased 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 valued at $32,000 after purchasing an additional 219 shares during the last quarter. EFG International AG bought a new stake in Canadian Imperial Bank of Commerce in the fourth quarter worth $35,000. Bell Investment Advisors Inc bought a new stake in Canadian Imperial Bank of Commerce in the second quarter worth $36,000. Global Assets Advisory LLC purchased a new position in Canadian Imperial Bank of Commerce during the first quarter worth $54,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in Canadian Imperial Bank of Commerce by 87.0% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock worth $69,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock opened at $114.46 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. The stock’s fifty day moving average is $117.46 and its two-hundred day moving average is $109.08. Canadian Imperial Bank of Commerce has a 52 week low of $76.10 and a 52 week high of $124.86. The company has a market capitalization 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.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released 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 business had revenue of $5.97 billion during the quarter, compared to the consensus estimate of $5.74 billion. Canadian Imperial Bank of Commerce had a return on equity of 17.02% and a net margin of 16.09%. As a group, analysts expect that Canadian Imperial Bank of Commerce will post 7.41 earnings per share for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared 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. This represents a $4.28 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, September 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 41.39%.

Analyst Ratings Changes

CM has been the topic of several recent analyst reports. Weiss Ratings raised shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday. TD Securities reaffirmed a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, August 12th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday. Keefe, Bruyette & Woods initiated coverage on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 21st. They issued a “market perform” rating on the stock. Finally, Raymond James Financial reissued a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. One equities research 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $167.00.

Key Headlines Impacting Canadian Imperial Bank of Commerce

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

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.