Intech Investment Management LLC Has $8.83 Million Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Intech Investment Management LLC increased its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 180.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,663 shares of the bank’s stock after buying an additional 119,421 shares during the quarter. Intech Investment Management LLC’s holdings in Canadian Imperial Bank of Commerce were worth $8,826,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CM. Principal Securities Inc. acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at $64,000. Principal Financial Group Inc. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 47.0% in the 4th quarter. Principal Financial Group Inc. now owns 68,300 shares of the bank’s stock valued at $3,305,000 after purchasing an additional 21,833 shares in the last quarter. UBS Group AG boosted its holdings in shares of Canadian Imperial Bank of Commerce by 18.9% in the 4th quarter. UBS Group AG now owns 356,914 shares of the bank’s stock valued at $17,182,000 after purchasing an additional 56,777 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at $539,000. Finally, Assetmark Inc. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 16.3% in the 4th quarter. Assetmark Inc. now owns 15,846 shares of the bank’s stock valued at $763,000 after purchasing an additional 2,216 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Up 0.0 %

Shares of NYSE:CM opened at $61.68 on Friday. The firm has a market cap of $58.17 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.85 and a beta of 1.07. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.15. Canadian Imperial Bank of Commerce has a 12-month low of $34.35 and a 12-month high of $62.01. The business has a fifty day simple moving average of $54.38 and a 200 day simple moving average of $50.70.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data 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 firm had revenue of $6.60 billion during the quarter, compared to analyst estimates of $6.28 billion. During the same period last year, the company posted $1.14 EPS. The business’s quarterly revenue was up 12.9% on a year-over-year basis. Analysts predict that Canadian Imperial Bank of Commerce will post 5.36 earnings per share for the current year.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be given a $0.652 dividend. This represents a $2.61 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Friday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 54.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. BMO Capital Markets raised their target price on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research note on Friday, August 30th. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, August 30th. Keefe, Bruyette & Woods upgraded Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a research note on Monday, June 3rd. Finally, UBS Group began coverage on Canadian Imperial Bank of Commerce in a research note on Tuesday, July 2nd. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.00.

Canadian Imperial Bank of Commerce 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.