OMERS ADMINISTRATION Corp Raises Holdings in Canadian Imperial Bank of Commerce $CM

OMERS ADMINISTRATION Corp increased its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 68.6% in the 4th quarter, Holdings Channel reports. The firm owned 1,886,310 shares of the bank’s stock after purchasing an additional 767,214 shares during the period. Canadian Imperial Bank of Commerce accounts for approximately 1.2% of OMERS ADMINISTRATION Corp’s portfolio, making the stock its 21st largest position. OMERS ADMINISTRATION Corp’s holdings in Canadian Imperial Bank of Commerce were worth $171,230,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CM. Larson Financial Group LLC increased its position 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 worth $32,000 after purchasing an additional 219 shares in the last quarter. Lodestone Wealth Management LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $37,000. Smartleaf Asset Management LLC increased its position in shares of Canadian Imperial Bank of Commerce by 128.1% during the third quarter. Smartleaf Asset Management LLC now owns 723 shares of the bank’s stock worth $58,000 after purchasing an additional 406 shares in the last quarter. Aventura Private Wealth LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $69,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its position in shares of Canadian Imperial Bank of Commerce by 87.0% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock worth $69,000 after purchasing an additional 400 shares in the last quarter. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock opened at $113.68 on Tuesday. Canadian Imperial Bank of Commerce has a 52 week low of $68.32 and a 52 week high of $117.05. The business’s fifty day simple moving average is $109.20 and its 200-day simple moving average is $99.43. The firm has a market cap of $103.77 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 1.22 and a beta of 1.02. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, May 28th. The bank reported $1.86 EPS for the quarter, beating the consensus estimate of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The business had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.86 billion. During the same quarter in the prior year, the company posted $2.05 EPS. The company’s quarterly revenue was up 14.0% on a year-over-year basis. Equities analysts forecast that Canadian Imperial Bank of Commerce will post 7.43 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Monday, June 29th will be paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, June 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 43.13%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Raymond James Financial restated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, May 12th. Barclays restated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Monday, June 1st. Weiss Ratings cut Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, June 4th. Zacks Research cut Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Finally, Scotiabank cut Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a report on Monday, June 1st. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of “Hold” and a consensus target price of $167.00.

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.