Vanguard Group Inc. Has $3.91 Billion Stock Holdings in Canadian Imperial Bank of Commerce $CM

Vanguard Group Inc. grew its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 43,097,841 shares of the bank’s stock after acquiring an additional 876,974 shares during the quarter. Vanguard Group Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $3,907,078,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of CM. Canerector Inc. lifted its position in shares of Canadian Imperial Bank of Commerce by 11,021.0% during the 3rd quarter. Canerector Inc. now owns 22,242,000 shares of the bank’s stock valued at $1,776,913,000 after acquiring an additional 22,042,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Canadian Imperial Bank of Commerce by 10.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,349,841 shares of the bank’s stock valued at $826,866,000 after acquiring an additional 980,811 shares during the period. Nicola Wealth Management LTD. bought a new stake in shares of Canadian Imperial Bank of Commerce during the 3rd quarter valued at $75,920,000. Picton Mahoney Asset Management lifted its position in shares of Canadian Imperial Bank of Commerce by 69.1% during the 3rd quarter. Picton Mahoney Asset Management now owns 1,477,258 shares of the bank’s stock valued at $118,022,000 after acquiring an additional 603,540 shares during the period. Finally, Two Sigma Investments LP raised its holdings in shares of Canadian Imperial Bank of Commerce by 136.2% during the 3rd quarter. Two Sigma Investments LP now owns 1,040,688 shares of the bank’s stock worth $83,141,000 after buying an additional 600,183 shares in the last quarter. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Stock Up 0.9%

Shares of Canadian Imperial Bank of Commerce stock opened at $110.49 on Tuesday. Canadian Imperial Bank of Commerce has a one year low of $61.23 and a one year high of $110.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s 50-day moving average is $100.25 and its 200 day moving average is $92.93. The firm has a market cap of $101.46 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 1.13 and a beta of 1.00.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, February 26th. The bank reported $1.99 EPS for the quarter, beating the consensus estimate of $1.74 by $0.25. Canadian Imperial Bank of Commerce had a return on equity of 15.69% and a net margin of 15.15%.The company had revenue of $6.16 billion for the quarter, compared to analyst estimates of $5.53 billion. During the same quarter in the prior year, the company earned $2.20 EPS. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. Equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 7.51 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Friday, March 27th will be given a dividend of $1.07 per share. The ex-dividend date is Friday, March 27th. This represents a $4.28 annualized dividend and a dividend yield of 3.9%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 45.77%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CM. Weiss Ratings cut Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, April 17th. Zacks Research raised Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 4th. Finally, Barclays raised Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company currently 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.