Canadian Imperial Bank of Commerce $CM Shares Purchased by Deutsche Bank AG

Deutsche Bank AG grew its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 3,960,082 shares of the bank’s stock after purchasing an additional 50,982 shares during the quarter. Deutsche Bank AG’s holdings in Canadian Imperial Bank of Commerce were worth $358,823,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 119.7% during the third quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock valued at $32,000 after acquiring an additional 219 shares in the last quarter. Lodestone Wealth Management LLC acquired a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at about $37,000. Smartleaf Asset Management LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 128.1% during the third quarter. Smartleaf Asset Management LLC now owns 723 shares of the bank’s stock valued at $58,000 after acquiring an additional 406 shares in the last quarter. Aventura Private Wealth LLC acquired a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at about $69,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its holdings in shares of 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 valued at $69,000 after acquiring an additional 400 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Down 0.5%

Canadian Imperial Bank of Commerce stock opened at $110.18 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11. Canadian Imperial Bank of Commerce has a 12 month low of $67.46 and a 12 month high of $117.05. The stock’s 50 day simple moving average is $108.17 and its two-hundred day simple moving average is $98.83. The firm has a market cap of $100.58 billion, a PE ratio of 15.13, a P/E/G ratio of 1.19 and a beta of 1.02.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 EPS for the quarter, topping the consensus estimate of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The business had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.86 billion. During the same quarter in the prior year, the firm posted $2.05 EPS. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. Analysts anticipate that Canadian Imperial Bank of Commerce will post 7.43 earnings per share for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Monday, June 29th will be given a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 3.9%. The ex-dividend date is Monday, June 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 43.13%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CM. Scotiabank downgraded shares of Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a report on Monday, June 1st. Royal Bank Of Canada upped their price objective on shares of Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Jefferies Financial Group restated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 28th. Raymond James Financial restated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, May 12th. Finally, Weiss Ratings downgraded shares of Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, June 4th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $167.00.

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.