Public Sector Pension Investment Board Has $228.04 Million Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Public Sector Pension Investment Board grew its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 32.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 accounts for approximately 1.2% of Public Sector Pension Investment Board's holdings, making the stock its 14th largest position. Public Sector Pension Investment Board owned approximately 0.39% of Canadian Imperial Bank of Commerce worth $228,043,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massmutual Trust Co. FSB ADV increased its stake in shares of Canadian Imperial Bank of Commerce by 23.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank's stock worth $56,000 after purchasing an additional 171 shares during the last quarter. PDS Planning Inc increased its position in Canadian Imperial Bank of Commerce by 4.7% during the third quarter. PDS Planning Inc now owns 4,978 shares of the bank's stock worth $305,000 after buying an additional 224 shares during the last quarter. Simplicity Wealth LLC increased its stake in shares of Canadian Imperial Bank of Commerce by 3.9% during the second quarter. Simplicity Wealth LLC now owns 6,448 shares of the bank's stock worth $307,000 after purchasing an additional 240 shares during the period. Prospera Private Wealth LLC lifted its holdings in Canadian Imperial Bank of Commerce by 3.2% during the 3rd quarter. Prospera Private Wealth LLC now owns 10,486 shares of the bank's stock worth $643,000 after purchasing an additional 330 shares during the last quarter. Finally, First Bank & Trust boosted its stake in Canadian Imperial Bank of Commerce by 0.8% in the 3rd quarter. First Bank & Trust now owns 41,646 shares of the bank's stock valued at $2,555,000 after purchasing an additional 351 shares during the period. Institutional investors and hedge funds own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM traded down $0.05 during midday trading on Thursday, hitting $64.68. The company's stock had a trading volume of 839,403 shares, compared to its average volume of 1,372,133. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a one year low of $37.97 and a one year high of $65.89. The stock has a market capitalization of $61.10 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 1.71 and a beta of 1.06. The company's fifty day simple moving average is $62.66 and its two-hundred day simple moving average is $55.34.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last issued its earnings results on Thursday, August 29th. The bank reported $1.93 EPS for the quarter, topping the consensus estimate of $1.74 by $0.19. The firm had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.28 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.50% and a net margin of 10.66%. The business's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.14 earnings per share. As a group, equities analysts expect that Canadian Imperial Bank of Commerce will post 5.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CM. StockNews.com downgraded Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a report on Saturday, October 19th. Desjardins raised shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "moderate buy" rating in a report 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 report on Friday, August 30th. Cormark upgraded Canadian Imperial Bank of Commerce from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 30th. Finally, BMO Capital Markets increased their price target on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an "outperform" rating in a research report on Friday, August 30th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned 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 $81.00.

About Canadian Imperial Bank of Commerce

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.