Ontario Teachers Pension Plan Board boosted its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 9.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 173,619 shares of the bank’s stock after acquiring an additional 15,026 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Canadian Imperial Bank of Commerce were worth $13,721,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of CM. Norges Bank bought a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth about $309,767,000. Toronto Dominion Bank lifted its holdings in shares of Canadian Imperial Bank of Commerce by 15.6% in the first quarter. Toronto Dominion Bank now owns 13,910,392 shares of the bank’s stock valued at $1,099,327,000 after purchasing an additional 1,881,024 shares in the last quarter. APG Asset Management N.V. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 34.4% in the fourth quarter. APG Asset Management N.V. now owns 3,418,660 shares of the bank’s stock valued at $222,641,000 after purchasing an additional 874,400 shares in the last quarter. Beutel Goodman & Co Ltd. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 105.6% in the first quarter. Beutel Goodman & Co Ltd. now owns 1,565,565 shares of the bank’s stock valued at $123,712,000 after purchasing an additional 804,140 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in shares of Canadian Imperial Bank of Commerce in the first quarter valued at about $66,073,000. Hedge funds and other institutional investors own 45.64% of the company’s stock.

Shares of NYSE:CM traded up $0.52 during midday trading on Tuesday, reaching $77.21. The company had a trading volume of 5,188 shares, compared to its average volume of 408,840. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $34.37 billion, a P/E ratio of 8.28, a P/E/G ratio of 6.69 and a beta of 1.18. Canadian Imperial Bank of Commerce has a 1-year low of $72.96 and a 1-year high of $96.98.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Wednesday, May 22nd. The bank reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.22 by $0.75. The business had revenue of $3.41 billion for the quarter, compared to the consensus estimate of $3.36 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.30% and a net margin of 18.83%. During the same quarter in the previous year, the business earned $2.95 earnings per share. As a group, equities analysts predict that Canadian Imperial Bank of Commerce will post 8.99 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be given a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date is Thursday, June 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 45.50%.

CM has been the topic of a number of research reports. Barclays restated an “average” rating and issued a $123.00 price target on shares of Canadian Imperial Bank of Commerce in a report on Friday, March 1st. Zacks Investment Research lowered Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a report on Monday, March 4th. Scotiabank restated an “average” rating and issued a $126.00 price target on shares of Canadian Imperial Bank of Commerce in a report on Friday, February 22nd. Desjardins lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Finally, TD Securities lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and a consensus price target of $123.83.

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About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, 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: Net Margin

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

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