Plato Investment Management Ltd Acquires Shares of 52,943 Canadian Imperial Bank of Commerce (NYSE:CM)

Plato Investment Management Ltd acquired a new stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 52,943 shares of the bank's stock, valued at approximately $3,248,000.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Canadian Imperial Bank of Commerce by 1.9% during the first quarter. Vanguard Group Inc. now owns 35,913,241 shares of the bank's stock worth $1,821,520,000 after purchasing an additional 675,786 shares during the period. Toronto Dominion Bank grew its stake in shares of Canadian Imperial Bank of Commerce by 17.9% during the second quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank's stock worth $1,233,272,000 after purchasing an additional 3,942,894 shares during the period. Cibc World Market Inc. grew its stake in Canadian Imperial Bank of Commerce by 18.9% in the second quarter. Cibc World Market Inc. now owns 19,748,305 shares of the bank's stock valued at $938,834,000 after acquiring an additional 3,143,734 shares during the period. National Bank of Canada FI boosted its position in shares of Canadian Imperial Bank of Commerce by 26.8% during the second quarter. National Bank of Canada FI now owns 18,340,869 shares of the bank's stock worth $867,377,000 after buying an additional 3,875,280 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Canadian Imperial Bank of Commerce by 3.3% during the second quarter. Legal & General Group Plc now owns 7,213,860 shares of the bank's stock worth $342,946,000 after buying an additional 228,130 shares during the period. Institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Stock Down 0.0 %

CM traded down $0.02 on Thursday, hitting $63.99. 141,777 shares of the company were exchanged, compared to its average volume of 1,395,204. Canadian Imperial Bank of Commerce has a 12 month low of $37.97 and a 12 month high of $65.09. The company has a market cap of $60.44 billion, a PE ratio of 12.58, a PEG ratio of 1.86 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The stock's fifty day moving average is $61.88 and its 200-day moving average is $54.17.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last released its quarterly earnings data on Thursday, August 29th. The bank reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.19. The firm had revenue of $6.60 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.14 earnings per share. Equities research analysts predict that Canadian Imperial Bank of Commerce will post 5.34 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 28th. Shareholders of record on Friday, September 27th were paid a $0.652 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.61 annualized dividend and a yield of 4.08%. Canadian Imperial Bank of Commerce's dividend payout ratio is 52.46%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CM. Cormark raised Canadian Imperial Bank of Commerce from a "hold" rating to a "moderate buy" rating in a research report on Friday, August 30th. BMO Capital Markets upped their price objective 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. StockNews.com cut Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research report on Saturday, October 19th. Bank of America raised Canadian Imperial Bank of Commerce from a "neutral" rating to a "buy" rating in a research report on Friday, August 30th. Finally, Desjardins upgraded Canadian Imperial Bank of Commerce from a "hold" rating to a "moderate buy" rating in a report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $81.00.

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.