Axa S.A. Buys 635,592 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Axa S.A. boosted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 373.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 805,845 shares of the bank’s stock after acquiring an additional 635,592 shares during the period. Axa S.A. owned 0.09% of Canadian Imperial Bank of Commerce worth $38,310,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Toronto Dominion Bank lifted its position in shares of Canadian Imperial Bank of Commerce by 17.9% in the second quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank’s stock valued at $1,233,272,000 after acquiring an additional 3,942,894 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter worth about $407,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Canadian Imperial Bank of Commerce by 61.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,030,130 shares of the bank’s stock valued at $334,321,000 after purchasing an additional 2,681,428 shares during the last quarter. Public Sector Pension Investment Board raised its position in Canadian Imperial Bank of Commerce by 1.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 2,812,964 shares of the bank’s stock worth $133,725,000 after purchasing an additional 37,082 shares during the period. Finally, Ensign Peak Advisors Inc lifted its stake in Canadian Imperial Bank of Commerce by 2.3% in the second quarter. Ensign Peak Advisors Inc now owns 61,500 shares of the bank’s stock worth $3,031,000 after purchasing an additional 1,400 shares during the last quarter. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. UBS Group started coverage on Canadian Imperial Bank of Commerce in a research note on Tuesday, July 2nd. They set a “neutral” rating on the stock. 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 shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, August 30th. Desjardins raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 2nd. Finally, Cormark upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $81.00.

Canadian Imperial Bank of Commerce Trading Up 0.4 %

NYSE:CM opened at $62.22 on Friday. The stock has a market capitalization of $58.77 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 1.86 and a beta of 1.07. Canadian Imperial Bank of Commerce has a 52 week low of $34.35 and a 52 week high of $62.67. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $55.08 and a 200 day moving average of $50.97.

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 analysts’ consensus estimates of $1.74 by $0.19. Canadian Imperial Bank of Commerce had a return on equity of 13.50% and a net margin of 10.66%. The firm had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same quarter last year, the firm earned $1.14 EPS. The business’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, sell-side analysts anticipate 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 firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be paid a dividend of $0.652 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.61 dividend on an annualized basis and a dividend yield of 4.19%. Canadian Imperial Bank of Commerce’s payout ratio is 54.32%.

About Canadian Imperial Bank of Commerce

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.