Canadian Imperial Bank of Commerce (CM) Stake Raised by Schroder Investment Management Group

Schroder Investment Management Group lifted its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 29.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 559,379 shares of the bank’s stock after buying an additional 126,532 shares during the quarter. Schroder Investment Management Group owned approximately 0.13% of Canadian Imperial Bank of Commerce worth $63,831,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Mawer Investment Management Ltd. bought a new position in Canadian Imperial Bank of Commerce in the second quarter worth approximately $205,000. Laurion Capital Management LP bought a new position in Canadian Imperial Bank of Commerce in the second quarter worth approximately $233,000. Flagship Harbor Advisors LLC bought a new position in Canadian Imperial Bank of Commerce in the second quarter worth approximately $265,000. Ostrum Asset Management bought a new position in Canadian Imperial Bank of Commerce in the first quarter worth approximately $275,000. Finally, Gateway Advisory LLC bought a new position in Canadian Imperial Bank of Commerce in the second quarter worth approximately $284,000. Hedge funds and other institutional investors own 46.00% of the company’s stock.

Shares of NYSE CM opened at $92.82 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.12. The firm has a market cap of $41.60 billion, a price-to-earnings ratio of 10.41, a P/E/G ratio of 1.81 and a beta of 1.20. Canadian Imperial Bank of Commerce has a 12-month low of $85.47 and a 12-month high of $100.01.

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

The business also recently announced a quarterly dividend, which will be paid on Monday, October 29th. Shareholders of record on Friday, September 28th will be given a dividend of $1.0412 per share. This represents a $4.16 annualized dividend and a yield of 4.49%. The ex-dividend date is Thursday, September 27th. 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 (DPR) is 46.91%.

Several research analysts recently issued reports on CM shares. TheStreet raised Canadian Imperial Bank of Commerce from a “c” rating to a “b-” rating in a research note on Thursday, August 23rd. Zacks Investment Research cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. Finally, ValuEngine raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Saturday, July 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $118.63.

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.

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

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