Triasima Portfolio Management inc. Has $18.23 Million Holdings in Canadian Imperial Bank of Commerce $CM

Triasima Portfolio Management inc. raised its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 18.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 228,062 shares of the bank’s stock after purchasing an additional 35,976 shares during the quarter. Canadian Imperial Bank of Commerce accounts for approximately 2.8% of Triasima Portfolio Management inc.’s portfolio, making the stock its 7th largest position. Triasima Portfolio Management inc.’s holdings in Canadian Imperial Bank of Commerce were worth $18,228,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth $730,245,000. The Manufacturers Life Insurance Company raised its holdings in Canadian Imperial Bank of Commerce by 130.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,354,644 shares of the bank’s stock valued at $519,312,000 after buying an additional 4,160,060 shares during the last quarter. Public Sector Pension Investment Board grew its position in shares of Canadian Imperial Bank of Commerce by 51.8% in the 2nd quarter. Public Sector Pension Investment Board now owns 7,106,008 shares of the bank’s stock worth $503,383,000 after buying an additional 2,425,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Canadian Imperial Bank of Commerce by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 41,410,285 shares of the bank’s stock worth $2,939,385,000 after acquiring an additional 1,382,123 shares during the period. Finally, Fisher Asset Management LLC bought a new stake in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at $88,610,000. 49.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Zacks Research raised Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 31st. Weiss Ratings restated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, October 8th. Wall Street Zen raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Finally, Raymond James Financial assumed coverage on Canadian Imperial Bank of Commerce in a research report on Tuesday, November 25th. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and an average target price of $107.50.

Canadian Imperial Bank of Commerce Stock Down 0.4%

Canadian Imperial Bank of Commerce stock opened at $91.68 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.13. Canadian Imperial Bank of Commerce has a 52 week low of $53.62 and a 52 week high of $94.16. The business’s 50-day moving average price is $89.72 and its 200 day moving average price is $81.77. The firm has a market cap of $85.15 billion, a price-to-earnings ratio of 15.06, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, December 4th. The bank reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.08. Canadian Imperial Bank of Commerce had a net margin of 13.57% and a return on equity of 14.93%. The firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same period in the prior year, the firm posted $1.91 earnings per share. The firm’s quarterly revenue was up 14.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 28th. Stockholders of record on Monday, December 29th will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 4.7%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date is Monday, December 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 50.25%.

Canadian Imperial Bank of Commerce Company 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.