196,411 Shares in Canadian Imperial Bank of Commerce $CM Bought by Varma Mutual Pension Insurance Co

Varma Mutual Pension Insurance Co purchased a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 196,411 shares of the bank’s stock, valued at approximately $22,610,000.

Several other large investors also recently bought and sold shares of CM. Larson Financial Group LLC boosted its stake in Canadian Imperial Bank of Commerce by 119.7% in the third quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock valued at $32,000 after acquiring an additional 219 shares in the last quarter. EFG International AG acquired a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth about $35,000. Bell Investment Advisors Inc purchased a new stake in shares of Canadian Imperial Bank of Commerce in the 2nd quarter valued at about $36,000. Global Assets Advisory LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce in the 1st quarter valued at about $54,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in shares of Canadian Imperial Bank of Commerce by 87.0% in the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock valued at $69,000 after purchasing an additional 400 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 opened at $116.38 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05. Canadian Imperial Bank of Commerce has a fifty-two week low of $72.57 and a fifty-two week high of $124.86. The firm has a 50-day simple moving average of $117.13 and a 200-day simple moving average of $108.27. The company has a market capitalization of $106.24 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 1.27 and a beta of 1.01.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.08. The firm had revenue of $5.89 billion for the quarter, compared to analysts’ expectations of $5.86 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 EPS. On average, equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 7.41 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Monday, June 29th were paid a $1.07 dividend. This represents a $4.28 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Monday, June 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 42.58%.

Analyst Ratings Changes

CM has been the topic of a number of research reports. Desjardins downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Barclays reiterated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday. Jefferies Financial Group reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 28th. Keefe, Bruyette & Woods initiated coverage on shares of Canadian Imperial Bank of Commerce in a research report on Friday. They set a “market perform” rating on the stock. Finally, TD Securities reaffirmed a “buy” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, August 12th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $167.00.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.