The APG Asset Management N.V. Raises Position in Canadian Imperial Bank of Commerce (CM)

The APG Asset Management N.V. Raises Position in Canadian Imperial Bank of Commerce (CM)

APG Asset Management N.V. boosted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 6.1% during the third quarter, Holdings Channel reports. The institutional investor owned 995,493 shares of the company’s stock after buying an additional 57,100 shares during the period. APG Asset Management N.V.’s holdings in Canadian Imperial Bank of Commerce were worth $101,272,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Advisor Group Inc. bought a new position in Canadian Imperial Bank of Commerce during the second quarter valued at approximately $154,000. Stevens Capital Management LP bought a new position in Canadian Imperial Bank of Commerce during the second quarter valued at approximately $220,000. Van ECK Associates Corp increased its position in Canadian Imperial Bank of Commerce by 3.6% in the second quarter. Van ECK Associates Corp now owns 3,071 shares of the company’s stock valued at $231,000 after buying an additional 107 shares during the period. Gideon Capital Advisors Inc. bought a new position in Canadian Imperial Bank of Commerce during the second quarter valued at approximately $299,000. Finally, Kassirer Asset Management Corp bought a new position in Canadian Imperial Bank of Commerce during the third quarter valued at approximately $310,000. 52.45% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce (NYSE:CM) opened at 83.52 on Thursday. Canadian Imperial Bank of Commerce has a one year low of $57.78 and a one year high of $85.66. The stock has a 50 day moving average price of $83.23 and a 200-day moving average price of $78.17. The stock has a market cap of $33.18 billion, a PE ratio of 10.27 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) last released its quarterly earnings results on Thursday, December 1st. The company reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.48 by $0.12. The company earned $3.70 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Canadian Imperial Bank of Commerce had a return on equity of 19.11% and a net margin of 22.84%. During the same quarter in the prior year, the firm posted $2.36 EPS. Equities research analysts expect that Canadian Imperial Bank of Commerce will post $7.76 earnings per share for the current fiscal year.

The firm also recently declared a dividend, which will be paid on Friday, January 27th. Investors of record on Wednesday, December 28th will be issued a $0.923 dividend. The ex-dividend date is Friday, December 23rd. Canadian Imperial Bank of Commerce’s payout ratio is 45.28%.

Several research analysts have recently commented on CM shares. Bank of America Corp. started coverage on Canadian Imperial Bank of Commerce in a research note on Tuesday, November 1st. They issued an “underperform” rating and a $72.00 price objective on the stock. Zacks Investment Research raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research note on Wednesday, January 11th. TD Securities reaffirmed a “hold” rating and issued a $115.00 price objective (up previously from $110.00) on shares of Canadian Imperial Bank of Commerce in a research note on Sunday, December 4th. Scotiabank reaffirmed a “sector perform” rating and issued a $105.00 price objective on shares of Canadian Imperial Bank of Commerce in a research note on Sunday, October 23rd. Finally, Dundee Securities began coverage on Canadian Imperial Bank of Commerce in a research note on Wednesday, September 21st. They issued a “buy” rating on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and an average target price of $100.01.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

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