Mackenzie Financial Corp Has $509.76 Million Stake in Canadian Imperial Bank of Commerce $CM

Mackenzie Financial Corp raised its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,380,638 shares of the bank’s stock after acquiring an additional 67,738 shares during the quarter. Mackenzie Financial Corp’s holdings in Canadian Imperial Bank of Commerce were worth $509,763,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Salem Investment Counselors Inc. acquired a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at about $30,000. Toth Financial Advisory Corp acquired a new position in Canadian Imperial Bank of Commerce in the third quarter valued at approximately $32,000. AdvisorNet Financial Inc increased its stake in shares of Canadian Imperial Bank of Commerce by 300.0% in the 3rd quarter. AdvisorNet Financial Inc now owns 400 shares of the bank’s stock valued at $32,000 after acquiring an additional 300 shares in the last quarter. Grey Fox Wealth Advisors LLC bought a new position in Canadian Imperial Bank of Commerce during the third quarter worth $34,000. Finally, Guerra Advisors Inc acquired a new position in shares of Canadian Imperial Bank of Commerce during the third quarter valued at about $35,000. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at $99.37 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.02 and a current ratio of 1.02. The business has a 50-day simple moving average of $95.29 and a two-hundred day simple moving average of $87.82. The company has a market capitalization of $91.86 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 1.01 and a beta of 1.00. Canadian Imperial Bank of Commerce has a 52-week low of $53.62 and a 52-week high of $105.00.

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

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Friday, March 27th will be given a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend is Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 44.61%.

Analysts Set New Price Targets

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

Canadian Imperial Bank of Commerce 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.