Jupiter Topco LLC Buys New Stake in Canadian Imperial Bank of Commerce $CM

Jupiter Topco LLC bought a new stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 94,559 shares of the bank’s stock, valued at approximately $10,870,000.

Other institutional investors also recently added to or reduced their stakes in 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 purchasing an additional 219 shares during the period. EFG International AG acquired a new stake in Canadian Imperial Bank of Commerce in the fourth quarter worth about $35,000. Bell Investment Advisors Inc acquired a new stake in Canadian Imperial Bank of Commerce in the second quarter worth about $36,000. Global Assets Advisory LLC bought a new position in Canadian Imperial Bank of Commerce in the 1st quarter valued at about $54,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position 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 valued at $69,000 after buying an additional 400 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Key Canadian Imperial Bank of Commerce News

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

Analyst Upgrades and Downgrades

CM has been the topic of a number of recent analyst reports. Barclays restated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 21st. Scotiabank reiterated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, June 16th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday. Raymond James Financial reissued a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, May 12th. Finally, Weiss Ratings upgraded Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Thursday. 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock opened at $114.46 on Friday. Canadian Imperial Bank of Commerce has a 52 week low of $76.10 and a 52 week high of $124.86. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11. The stock has a market cap of $104.48 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 1.19 and a beta of 1.01. The company’s 50-day moving average price is $117.46 and its two-hundred day moving average price is $109.00.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, August 27th. The bank reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.16. Canadian Imperial Bank of Commerce had a net margin of 16.09% and a return on equity of 17.07%. The company had revenue of $5.97 billion for the quarter, compared to analysts’ expectations of $5.74 billion. As a group, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 7.41 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Monday, September 28th will be paid a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, September 28th. This represents a $4.28 annualized dividend and a dividend yield of 3.7%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 42.58%.

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.