Nykredit A S Takes Position in Canadian Imperial Bank of Commerce $CM

Nykredit A S bought a new position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the second quarter, Holdings Channel reports. The fund bought 227,303 shares of the bank’s stock, valued at approximately $26,166,000.

A number of other large investors also recently bought and sold shares of the business. Larson Financial Group LLC grew its holdings in Canadian Imperial Bank of Commerce by 119.7% in the third quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock worth $32,000 after purchasing an additional 219 shares during the period. EFG International AG purchased a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $35,000. Bell Investment Advisors Inc purchased a new position in shares of Canadian Imperial Bank of Commerce during the second quarter valued at approximately $36,000. Global Assets Advisory LLC bought a new stake in shares of Canadian Imperial Bank of Commerce in the 1st quarter worth approximately $54,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in shares of Canadian Imperial Bank of Commerce by 87.0% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock worth $69,000 after purchasing an additional 400 shares in the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM opened at $118.20 on Friday. The company has a market capitalization of $107.90 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 1.17 and a beta of 1.01. 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 firm has a 50 day moving average of $117.52 and a 200 day moving average of $109.60. Canadian Imperial Bank of Commerce has a twelve month low of $77.66 and a twelve month high of $124.86.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, August 27th. The bank reported $1.96 earnings per share for the quarter, topping analysts’ consensus estimates of $1.80 by $0.16. The company had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.74 billion. Canadian Imperial Bank of Commerce had a net margin of 16.09% and a return on equity of 17.02%. As a group, equities research analysts anticipate 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders 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 annualized dividend and a dividend yield of 3.6%. Canadian Imperial Bank of Commerce’s payout ratio is currently 41.39%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. TD Securities reaffirmed a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, August 12th. Raymond James Financial reissued a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, May 12th. Desjardins cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Barclays restated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 21st. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $167.00.

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.