Canadian Imperial Bank of Commerce (NYSE:CM) Shares Bought by American Century Companies Inc.

American Century Companies Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 13.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 256,164 shares of the bank’s stock after buying an additional 30,450 shares during the period. American Century Companies Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $12,180,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its position in Canadian Imperial Bank of Commerce by 47.0% during the 4th quarter. Principal Financial Group Inc. now owns 68,300 shares of the bank’s stock worth $3,305,000 after acquiring an additional 21,833 shares during the period. UBS Group AG raised its stake in shares of Canadian Imperial Bank of Commerce by 18.9% during the fourth 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 Canadian Imperial Bank of Commerce in the fourth quarter worth about $539,000. Assetmark Inc. grew its position in 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 buying an additional 2,216 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new position in Canadian Imperial Bank of Commerce during the 4th quarter valued at about $271,000. 49.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on CM shares. Bank of America raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research note on Friday, August 30th. Desjardins raised Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 2nd. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, August 30th. 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 research note on Friday, August 30th. Finally, Cormark upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $81.00.

Canadian Imperial Bank of Commerce Stock Up 0.0 %

Shares of Canadian Imperial Bank of Commerce stock opened at $61.68 on Friday. Canadian Imperial Bank of Commerce has a 12-month low of $34.35 and a 12-month high of $62.01. The firm has a market capitalization of $58.17 billion, a PE ratio of 12.69, a price-to-earnings-growth 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. The stock’s fifty day moving average is $54.38 and its 200-day moving average is $50.72.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, August 29th. The bank reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. The company had revenue of $6.60 billion during the quarter, compared to analyst estimates of $6.28 billion. Canadian Imperial Bank of Commerce had a net margin of 10.66% and a return on equity of 13.63%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.14 earnings per share. Equities analysts anticipate 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 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 dividend of $0.652 per share. This represents a $2.61 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend is Friday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is 54.73%.

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.