Pacer Advisors Inc. Takes Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Posted by on May 6th, 2023

Pacer Advisors Inc. bought a new stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM – Get Rating) (TSE:CM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,773 shares of the bank’s stock, valued at approximately $274,000.

Other institutional investors also recently made changes to their positions in the company. Tobam grew its holdings in shares of Canadian Imperial Bank of Commerce by 5.0% during the third quarter. Tobam now owns 50,554 shares of the bank’s stock valued at $2,226,000 after purchasing an additional 2,399 shares during the last quarter. Pictet Asset Management SA grew its holdings in Canadian Imperial Bank of Commerce by 2.9% in the 3rd quarter. Pictet Asset Management SA now owns 304,132 shares of the bank’s stock worth $13,382,000 after buying an additional 8,598 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in Canadian Imperial Bank of Commerce by 7.1% in the 3rd quarter. Checchi Capital Advisers LLC now owns 4,962 shares of the bank’s stock worth $217,000 after buying an additional 330 shares in the last quarter. First Bank & Trust grew its holdings in Canadian Imperial Bank of Commerce by 2.2% in the 3rd quarter. First Bank & Trust now owns 25,986 shares of the bank’s stock worth $1,137,000 after buying an additional 570 shares in the last quarter. Finally, K.J. Harrison & Partners Inc grew its holdings in Canadian Imperial Bank of Commerce by 5.2% in the 4th quarter. K.J. Harrison & Partners Inc now owns 41,655 shares of the bank’s stock worth $2,281,444,000 after buying an additional 2,041 shares in the last quarter. 44.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CM shares. StockNews.com started coverage on Canadian Imperial Bank of Commerce in a report on Thursday, March 16th. They issued a “hold” rating for the company. Royal Bank of Canada increased their price objective on Canadian Imperial Bank of Commerce from $69.00 to $70.00 and gave the stock a “sector perform” rating in a report on Monday, February 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $74.88.

Canadian Imperial Bank of Commerce Stock Performance

Shares of NYSE CM opened at $41.50 on Friday. The stock has a fifty day moving average price of $42.59 and a two-hundred day moving average price of $43.76. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $37.85 billion, a P/E ratio of 10.53, a PEG ratio of 2.13 and a beta of 1.01. Canadian Imperial Bank of Commerce has a 1 year low of $39.40 and a 1 year high of $56.68.

Canadian Imperial Bank of Commerce (NYSE:CM – Get Rating) (TSE:CM) last announced its quarterly earnings data on Friday, February 24th. The bank reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.21. Canadian Imperial Bank of Commerce had a return on equity of 14.51% and a net margin of 12.75%. The company had revenue of $4.40 billion during the quarter. Research analysts forecast that Canadian Imperial Bank of Commerce will post 5.63 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Tuesday, March 28th were given a dividend of $0.639 per share. This represents a $2.56 dividend on an annualized basis and a dividend yield of 6.16%. The ex-dividend date of this dividend was Monday, March 27th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.63. Canadian Imperial Bank of Commerce’s dividend payout ratio is 63.20%.

About Canadian Imperial Bank of Commerce

(Get Rating)

Canadian Imperial Bank of Commerce is a financial institution, which engages in the provision of banking and wealth management services. It operates through the following segments: Canadian Personal and Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, Capital Markets, and Corporate and Other.

Read More

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 – Get Rating) (TSE:CM).

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

Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.