Canadian Imperial Bank of Commerce (NYSE:CM) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp increased its position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 31.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 205,124 shares of the bank's stock after purchasing an additional 48,843 shares during the quarter. Van ECK Associates Corp's holdings in Canadian Imperial Bank of Commerce were worth $12,873,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV boosted its stake in shares of Canadian Imperial Bank of Commerce by 23.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank's stock worth $56,000 after buying an additional 171 shares during the last quarter. Simplicity Wealth LLC boosted its holdings in 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 buying an additional 240 shares in the last quarter. Bleakley Financial Group LLC grew its position in Canadian Imperial Bank of Commerce by 5.3% during the first quarter. Bleakley Financial Group LLC now owns 6,208 shares of the bank's stock valued at $315,000 after buying an additional 314 shares during the period. First Bank & Trust increased its holdings in Canadian Imperial Bank of Commerce by 0.8% in the third quarter. First Bank & Trust now owns 41,646 shares of the bank's stock valued at $2,555,000 after buying an additional 351 shares in the last quarter. Finally, Lantz Financial LLC raised its position in shares of Canadian Imperial Bank of Commerce by 7.1% in the second quarter. Lantz Financial LLC now owns 5,824 shares of the bank's stock worth $277,000 after acquiring an additional 385 shares during the period. 49.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Canadian Imperial Bank of Commerce Trading Down 0.4 %

Canadian Imperial Bank of Commerce stock traded down $0.27 during midday trading on Wednesday, reaching $63.50. 1,010,192 shares of the stock traded hands, compared to its average volume of 1,417,933. The firm has a market cap of $59.98 billion, a PE ratio of 12.48, a price-to-earnings-growth ratio of 1.82 and a beta of 1.06. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The company has a 50-day simple moving average of $61.27 and a two-hundred day simple moving average of $53.59. Canadian Imperial Bank of Commerce has a 12-month low of $37.25 and a 12-month high of $64.02.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last issued its quarterly earnings results on Thursday, August 29th. The bank reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.19. Canadian Imperial Bank of Commerce had a return on equity of 13.50% and a net margin of 10.66%. The company had revenue of $6.60 billion for the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter in the prior year, the business earned $1.14 EPS. Canadian Imperial Bank of Commerce's revenue was up 12.9% on a year-over-year basis. Research analysts expect that Canadian Imperial Bank of Commerce will post 5.36 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently declared 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 4.11%. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 52.46%.

Canadian Imperial Bank of Commerce 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.