Canadian Imperial Bank of Commerce $CM Shares Purchased by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC increased its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 755.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,601 shares of the bank’s stock after buying an additional 87,964 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Canadian Imperial Bank of Commerce were worth $7,056,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Korea Investment CORP lifted its position in shares of Canadian Imperial Bank of Commerce by 6.3% during the 2nd quarter. Korea Investment CORP now owns 691,521 shares of the bank’s stock valued at $48,987,000 after acquiring an additional 41,152 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in Canadian Imperial Bank of Commerce during the second quarter worth $43,000. Quadrant Capital Group LLC boosted its position in Canadian Imperial Bank of Commerce by 8.6% during the second quarter. Quadrant Capital Group LLC now owns 30,582 shares of the bank’s stock worth $2,167,000 after purchasing an additional 2,421 shares in the last quarter. Choreo LLC grew its holdings in Canadian Imperial Bank of Commerce by 8.2% in the second quarter. Choreo LLC now owns 4,059 shares of the bank’s stock valued at $290,000 after purchasing an additional 307 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Canadian Imperial Bank of Commerce by 1.4% in the second quarter. Russell Investments Group Ltd. now owns 360,860 shares of the bank’s stock valued at $25,508,000 after buying an additional 4,926 shares in the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on CM shares. Raymond James Financial initiated coverage on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, November 25th. They issued a “market perform” rating on the stock. Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Royal Bank Of Canada raised their price objective on shares of Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock opened at $86.13 on Friday. The stock has a market capitalization of $79.99 billion, a P/E ratio of 14.55, a P/E/G ratio of 1.76 and a beta of 1.03. Canadian Imperial Bank of Commerce has a 12-month low of $53.62 and a 12-month high of $87.37. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.04 and a quick ratio of 1.04. The firm’s 50-day moving average is $82.72 and its two-hundred day moving average is $75.92.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, August 28th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.14. Canadian Imperial Bank of Commerce had a net margin of 12.94% and a return on equity of 14.67%. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter in the prior year, the firm posted $1.93 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities analysts predict that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current year.

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.