Mackenzie Financial Corp Purchases 67,738 Shares of Canadian Imperial Bank of Commerce $CM

Mackenzie Financial Corp increased its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,380,638 shares of the bank’s stock after acquiring an additional 67,738 shares during the period. Mackenzie Financial Corp owned about 0.69% of Canadian Imperial Bank of Commerce worth $509,763,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Canerector Inc. raised its stake in Canadian Imperial Bank of Commerce by 11,021.0% during the third quarter. Canerector Inc. now owns 22,242,000 shares of the bank’s stock worth $1,776,913,000 after acquiring an additional 22,042,000 shares in the last quarter. Norges Bank bought a new stake in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at approximately $730,245,000. The Manufacturers Life Insurance Company grew its holdings in shares of 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 purchasing an additional 4,160,060 shares during the last quarter. Public Sector Pension Investment Board increased its position in Canadian Imperial Bank of Commerce by 51.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 7,106,008 shares of the bank’s stock worth $503,383,000 after purchasing an additional 2,425,000 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Canadian Imperial Bank of Commerce by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 41,410,285 shares of the bank’s stock valued at $2,939,385,000 after purchasing an additional 1,382,123 shares during the last quarter. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Stock Up 1.5%

Shares of CM opened at $99.37 on Wednesday. The stock’s 50-day moving average price is $95.29 and its two-hundred day moving average price is $87.82. Canadian Imperial Bank of Commerce has a 12 month low of $53.62 and a 12 month high of $105.00. The company has a market capitalization of $91.86 billion, a PE ratio of 14.49, a PEG ratio of 1.01 and a beta of 1.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, February 26th. The bank reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.25. The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $5.53 billion. Canadian Imperial Bank of Commerce had a return on equity of 15.20% and a net margin of 15.15%.The firm’s revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company earned $2.20 earnings per share. On average, analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Friday, March 27th will be issued a dividend of $1.07 per share. The ex-dividend date is Friday, March 27th. This represents a $4.28 annualized dividend and a yield of 4.3%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 44.61%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CM shares. Zacks Research upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 4th. Barclays upgraded Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research report on Thursday, February 19th. Raymond James Financial began coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, November 25th. They issued a “market perform” rating for the company. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.50.

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.