Canadian Imperial Bank of Commerce (NYSE:CM) Shares Bought by AGF Management Ltd.

AGF Management Ltd. raised its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 210.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 82,705 shares of the bank’s stock after acquiring an additional 56,046 shares during the period. AGF Management Ltd.’s holdings in Canadian Imperial Bank of Commerce were worth $4,232,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Canadian Imperial Bank of Commerce by 1.9% in the first quarter. Vanguard Group Inc. now owns 35,913,241 shares of the bank’s stock valued at $1,821,520,000 after purchasing an additional 675,786 shares during the last quarter. Bank of Nova Scotia increased its stake in shares of Canadian Imperial Bank of Commerce by 8.1% during the 4th quarter. Bank of Nova Scotia now owns 24,915,095 shares of the bank’s stock valued at $1,199,627,000 after acquiring an additional 1,872,709 shares during the last quarter. TD Asset Management Inc lifted its holdings in shares of Canadian Imperial Bank of Commerce by 13.8% during the 4th quarter. TD Asset Management Inc now owns 22,550,346 shares of the bank’s stock worth $1,091,089,000 after acquiring an additional 2,730,076 shares during the period. National Bank of Canada FI lifted its holdings in shares of Canadian Imperial Bank of Commerce by 26.8% during the 2nd quarter. National Bank of Canada FI now owns 18,340,869 shares of the bank’s stock worth $867,377,000 after acquiring an additional 3,875,280 shares during the period. Finally, CIBC Asset Management Inc boosted its position in shares of Canadian Imperial Bank of Commerce by 12.8% in the fourth quarter. CIBC Asset Management Inc now owns 11,601,044 shares of the bank’s stock worth $560,365,000 after acquiring an additional 1,313,996 shares during the last quarter. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

NYSE:CM opened at $60.93 on Friday. Canadian Imperial Bank of Commerce has a twelve month low of $34.35 and a twelve month high of $61.25. The firm has a market capitalization of $57.46 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 1.79 and a beta of 1.06. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15. The firm’s fifty day simple moving average is $52.85 and its 200 day simple moving average is $50.11.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, August 29th. The bank reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.19. Canadian Imperial Bank of Commerce had a return on equity of 13.63% and a net margin of 10.66%. The company had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the prior year, the business earned $1.14 earnings per share. The company’s revenue was up 12.9% compared to the same quarter last year. As a group, equities research analysts expect that Canadian Imperial Bank of Commerce will post 5.36 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Shareholders of record on Friday, September 27th will be given a $0.652 dividend. This represents a $2.61 annualized dividend and a yield of 4.28%. The ex-dividend date is Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 53.50%.

Analyst Ratings Changes

Several equities analysts recently commented on CM shares. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday, August 30th. BMO Capital Markets upped their price objective on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Cormark upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 30th. Desjardins upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 2nd. Finally, Keefe, Bruyette & Woods upgraded Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Canadian Imperial Bank of Commerce has an average rating of “Moderate Buy” and an average price target of $81.00.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.