Man Group plc Buys New Shares in Canadian Imperial Bank of Commerce $CM

Man Group plc bought a new position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 38,558 shares of the bank’s stock, valued at approximately $4,434,000.

Other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 119.7% in the third quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock worth $32,000 after acquiring an additional 219 shares during the period. EFG International AG bought a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at approximately $35,000. Bell Investment Advisors Inc purchased a new position in Canadian Imperial Bank of Commerce in the 2nd quarter worth approximately $36,000. Global Assets Advisory LLC purchased a new position in Canadian Imperial Bank of Commerce in the 1st quarter worth approximately $54,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in Canadian Imperial Bank of Commerce by 87.0% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock worth $69,000 after purchasing an additional 400 shares during the period. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce News Roundup

Here are the key news stories impacting Canadian Imperial Bank of Commerce this week:

• Positive Sentiment: Adjusted third-quarter earnings per share rose 26% year over year to $2.73, marking CIBC’s ninth consecutive quarter of double-digit EPS growth. Adjusted net income increased to C$2.648 billion on revenue of C$8.368 billion, while return on equity reached 16.8%. CIBC Notches a Ninth Straight Quarter of Double-Digit Growth
• Positive Sentiment: Profit exceeded analyst expectations, supported by growth in domestic retail banking, capital markets and CIBC’s U.S. operations. Reported quarterly earnings reached C$2.41 billion, up from C$2.1 billion a year earlier. CIBC Beats Profit Forecast on Growth in Domestic Banking
• Positive Sentiment: CIBC declared a quarterly dividend of C$1.07 per share, payable October 28 to shareholders of record September 28. The dividend supports an annualized yield of approximately 3.7% and may appeal to income-focused investors.
• Neutral Sentiment: Analysts’ recent price targets remain above the current trading range, with targets of C$144, C$157 and C$167. However, these targets predate the latest earnings reaction and may not yet reflect investor concerns about capital and one-time costs.
• Negative Sentiment: The quarter included C$269 million in charges related to the announced sale of CIBC Caribbean Bank. The bank’s CET1 capital ratio also declined to 13.4% from 13.6%, partly because of the charge, a minority investment closing and share repurchases. Those factors offset the operating-profit beat and contributed to the weaker market response. CIBC Slides After Earnings as Sale Charge and Capital Ratio Dip Offset a Profit Beat

Canadian Imperial Bank of Commerce Stock Up 0.1%

Shares of CM opened at $114.46 on Monday. The stock has a market capitalization of $104.48 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.19 and a beta of 1.01. Canadian Imperial Bank of Commerce has a 1 year low of $76.10 and a 1 year high of $124.86. The business’s 50 day simple moving average is $117.46 and its 200-day simple moving average is $109.08. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its earnings results on Thursday, August 27th. The bank reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. Canadian Imperial Bank of Commerce had a net margin of 16.09% and a return on equity of 17.02%. The firm had revenue of $5.97 billion during the quarter, compared to analyst estimates of $5.74 billion. As a group, equities analysts expect that Canadian Imperial Bank of Commerce will post 7.41 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Monday, September 28th will be given a dividend of $1.07 per share. The ex-dividend date is Monday, September 28th. This represents a $4.28 annualized dividend and a yield of 3.7%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 41.39%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Desjardins cut shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Raymond James Financial restated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, May 12th. Weiss Ratings raised shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Thursday. Scotiabank reiterated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, June 16th. Finally, Barclays reiterated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $167.00.

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.