Scotia Capital Inc. Purchases 89,911 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Scotia Capital Inc. lifted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 6.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,597,515 shares of the bank’s stock after purchasing an additional 89,911 shares during the period. Canadian Imperial Bank of Commerce comprises 1.5% of Scotia Capital Inc.’s investment portfolio, making the stock its 15th largest holding. Scotia Capital Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $125,331,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CM. Banco de Sabadell S.A boosted its stake in Canadian Imperial Bank of Commerce by 13.5% during the second quarter. Banco de Sabadell S.A now owns 17,600 shares of the bank’s stock worth $1,812,000 after acquiring an additional 2,100 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in Canadian Imperial Bank of Commerce by 1.1% during the second quarter. Parametric Portfolio Associates LLC now owns 215,876 shares of the bank’s stock valued at $16,959,000 after purchasing an additional 2,409 shares in the last quarter. MML Investors Services LLC raised its position in Canadian Imperial Bank of Commerce by 0.8% during the second quarter. MML Investors Services LLC now owns 27,137 shares of the bank’s stock valued at $2,132,000 after purchasing an additional 205 shares in the last quarter. Toronto Dominion Bank lifted its stake in Canadian Imperial Bank of Commerce by 31.6% during the second quarter. Toronto Dominion Bank now owns 18,311,681 shares of the bank’s stock worth $1,439,731,000 after purchasing an additional 4,401,289 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. lifted its stake in Canadian Imperial Bank of Commerce by 2.3% during the second quarter. Pinnacle Financial Partners Inc. now owns 35,071 shares of the bank’s stock worth $2,755,000 after purchasing an additional 801 shares during the last quarter. 44.54% of the stock is owned by institutional investors.

CM stock traded up $1.05 during midday trading on Wednesday, hitting $81.25. The company’s stock had a trading volume of 48,779 shares, compared to its average volume of 574,168. The firm’s 50-day moving average is $76.83 and its 200-day moving average is $80.02. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.16. Canadian Imperial Bank of Commerce has a 12 month low of $72.96 and a 12 month high of $96.98. The company has a market cap of $35.68 billion, a PE ratio of 8.72, a P/E/G ratio of 8.32 and a beta of 1.17.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings results on Thursday, August 22nd. The bank reported $3.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.29 by $0.81. The firm had revenue of $3.54 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Canadian Imperial Bank of Commerce had a return on equity of 15.92% and a net margin of 18.39%. During the same quarter in the previous year, the business earned $3.08 earnings per share. Analysts expect that Canadian Imperial Bank of Commerce will post 9.1 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be issued a $1.091 dividend. This represents a $4.36 annualized dividend and a yield of 5.37%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. The ex-dividend date is Thursday, September 26th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 44.33%.

Several equities analysts have recently commented on CM shares. BMO Capital Markets reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 23rd. Zacks Investment Research downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Monday, August 19th. Desjardins lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Barclays reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, August 22nd. Finally, National Bank Financial reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $120.67.

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 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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