Canadian Imperial Bank of Commerce (NYSE:CM) Shares Bought by Schroder Investment Management Group

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Schroder Investment Management Group increased its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 29.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 559,379 shares of the bank’s stock after purchasing an additional 126,532 shares during the period. Schroder Investment Management Group owned 0.13% of Canadian Imperial Bank of Commerce worth $63,831,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. WESPAC Advisors SoCal LLC boosted its stake in Canadian Imperial Bank of Commerce by 1.1% in the second quarter. WESPAC Advisors SoCal LLC now owns 48,330 shares of the bank’s stock valued at $4,200,000 after acquiring an additional 545 shares during the period. First Allied Advisory Services Inc. raised its holdings in shares of Canadian Imperial Bank of Commerce by 9.9% during the second quarter. First Allied Advisory Services Inc. now owns 6,320 shares of the bank’s stock valued at $548,000 after buying an additional 571 shares during the last quarter. Baird Financial Group Inc. raised its holdings in shares of Canadian Imperial Bank of Commerce by 1.7% during the first quarter. Baird Financial Group Inc. now owns 39,334 shares of the bank’s stock valued at $3,472,000 after buying an additional 658 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Canadian Imperial Bank of Commerce by 5.7% during the first quarter. Commonwealth Equity Services LLC now owns 13,692 shares of the bank’s stock valued at $1,208,000 after buying an additional 737 shares during the last quarter. Finally, Naples Global Advisors LLC raised its holdings in shares of Canadian Imperial Bank of Commerce by 4.5% during the second quarter. Naples Global Advisors LLC now owns 17,520 shares of the bank’s stock valued at $1,523,000 after buying an additional 750 shares during the last quarter. Institutional investors and hedge funds own 46.00% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. TheStreet cut Canadian Imperial Bank of Commerce from a “b-” rating to a “c+” rating in a report on Wednesday. ValuEngine raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Thursday, August 30th. Finally, Zacks Investment Research cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Monday, August 13th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $118.63.

NYSE:CM traded down $0.10 during midday trading on Friday, hitting $88.68. 718,305 shares of the stock were exchanged, compared to its average volume of 373,537. Canadian Imperial Bank of Commerce has a one year low of $85.47 and a one year high of $100.01. The stock has a market cap of $41.60 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 1.81 and a beta of 1.20. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.05 and a quick ratio of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, August 23rd. The bank reported $3.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.22 by $0.86. Canadian Imperial Bank of Commerce had a return on equity of 17.77% and a net margin of 21.27%. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the previous year, the company earned $2.77 earnings per share. On average, sell-side analysts expect that Canadian Imperial Bank of Commerce will post 9.35 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 29th. Shareholders of record on Friday, September 28th will be issued a $1.0412 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $4.16 annualized dividend and a dividend yield of 4.70%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 46.91%.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

Further Reading: Beta

Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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