Canadian Imperial Bank of Commerce (NYSE:CM) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 15.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 335,143 shares of the bank’s stock after acquiring an additional 45,231 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Canadian Imperial Bank of Commerce were worth $16,216,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of Canadian Imperial Bank of Commerce by 187.3% during the third quarter. Wellington Management Group LLP now owns 266,581 shares of the bank’s stock worth $10,338,000 after purchasing an additional 173,801 shares during the last quarter. CenterBook Partners LP purchased a new position in Canadian Imperial Bank of Commerce in the third quarter worth $4,509,000. American Century Companies Inc. raised its position in Canadian Imperial Bank of Commerce by 8.7% in the third quarter. American Century Companies Inc. now owns 177,501 shares of the bank’s stock worth $6,852,000 after acquiring an additional 14,141 shares in the last quarter. Public Sector Pension Investment Board raised its position in Canadian Imperial Bank of Commerce by 177.6% in the third quarter. Public Sector Pension Investment Board now owns 990,605 shares of the bank’s stock worth $38,415,000 after acquiring an additional 633,770 shares in the last quarter. Finally, Bank of Nova Scotia Trust Co. raised its position in Canadian Imperial Bank of Commerce by 20.4% in the third quarter. Bank of Nova Scotia Trust Co. now owns 563,792 shares of the bank’s stock worth $21,768,000 after acquiring an additional 95,463 shares in the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock opened at $47.22 on Friday. The stock’s 50-day moving average is $48.38 and its 200-day moving average is $44.19. The company has a market cap of $44.27 billion, a price-to-earnings ratio of 9.76, a price-to-earnings-growth ratio of 2.21 and a beta of 1.06. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a 12 month low of $34.35 and a 12 month high of $51.14.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, February 29th. The bank reported $1.34 EPS for the quarter, beating the consensus estimate of $1.24 by $0.10. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.47 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.07% and a net margin of 10.79%. Equities analysts anticipate that Canadian Imperial Bank of Commerce will post 5.04 earnings per share for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Thursday, March 28th will be issued a dividend of $0.6634 per share. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. This represents a $2.65 annualized dividend and a dividend yield of 5.62%. The ex-dividend date is Wednesday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 26.45%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Scotiabank raised Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a research note on Tuesday, February 20th. Jefferies Financial Group assumed coverage on Canadian Imperial Bank of Commerce in a research note on Thursday, February 22nd. They set a “buy” rating on the stock. Finally, Barclays assumed coverage on Canadian Imperial Bank of Commerce in a research note on Wednesday, March 20th. They set an “underweight” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce currently has an average rating of “Moderate Buy” and an average target price of $63.00.

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.