Canadian Imperial Bank of Commerce (NYSE:CM) Shares Purchased by Public Sector Pension Investment Board

by · The Cerbat Gem

Public Sector Pension Investment Board increased its holdings in Canadian Imperial Bank of Commerce (NYSE:CM – Free Report) (TSE:CM) by 32.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,713,539 shares of the bank’s stock after acquiring an additional 900,575 shares during the period. Canadian Imperial Bank of Commerce makes up about 1.2% of Public Sector Pension Investment Board’s holdings, making the stock its 14th largest holding. Public Sector Pension Investment Board’s holdings in Canadian Imperial Bank of Commerce were worth $228,043,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Toronto Dominion Bank raised its stake in shares of Canadian Imperial Bank of Commerce by 17.9% in the 2nd 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 during the period. Cibc World Market Inc. increased its holdings in Canadian Imperial Bank of Commerce by 18.9% in the 2nd quarter. Cibc World Market Inc. now owns 19,748,305 shares of the bank’s stock valued at $938,834,000 after purchasing an additional 3,143,734 shares during the last quarter. National Bank of Canada FI raised its position in Canadian Imperial Bank of Commerce by 26.8% in the second quarter. National Bank of Canada FI now owns 18,340,869 shares of the bank’s stock valued at $867,377,000 after purchasing an additional 3,875,280 shares during the period. CIBC Asset Management Inc lifted its stake in Canadian Imperial Bank of Commerce by 3.4% during the third quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank’s stock worth $696,659,000 after purchasing an additional 375,837 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Canadian Imperial Bank of Commerce by 14.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,641,498 shares of the bank’s stock worth $652,676,000 after buying an additional 1,305,665 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. StockNews.com downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. Desjardins upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 2nd. Bank of America raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research note on Friday, August 30th. BMO Capital Markets upped their target price on shares of Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Finally, Cormark raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and an average target price of $81.00.

Read Our Latest Analysis on CM

Canadian Imperial Bank of Commerce Stock Down 0.1 %

CM stock opened at $64.68 on Thursday. The company’s 50 day moving average price is $62.66 and its 200 day moving average price is $55.34. The firm has a market capitalization of $61.10 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 1.71 and a beta of 1.06. Canadian Imperial Bank of Commerce has a fifty-two week low of $37.97 and a fifty-two week high of $65.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM – Get Free Report) (TSE:CM) last announced its quarterly earnings data on Thursday, August 29th. The bank reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. The company had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.28 billion. Canadian Imperial Bank of Commerce had a net margin of 10.66% and a return on equity of 13.50%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.14 EPS. On average, equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.27 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding CM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Imperial Bank of Commerce (NYSE:CM – Free Report) (TSE:CM).