8,059,922 Shares in Canadian Imperial Bank of Commerce $CM Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board purchased a new stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,059,922 shares of the bank’s stock, valued at approximately $927,219,000.

Several other institutional investors have also recently bought and sold shares of the business. Larson Financial Group LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 119.7% during the third quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock worth $32,000 after purchasing an additional 219 shares during the last quarter. EFG International AG bought a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at about $35,000. Bell Investment Advisors Inc bought a new position in shares of Canadian Imperial Bank of Commerce in the second quarter valued at about $36,000. Global Assets Advisory LLC acquired a new position in Canadian Imperial Bank of Commerce during the 1st quarter worth about $54,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in Canadian Imperial Bank of Commerce by 87.0% during the 3rd quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock worth $69,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

Shares of NYSE:CM opened at $118.44 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11. Canadian Imperial Bank of Commerce has a 1-year low of $72.61 and a 1-year high of $124.86. The stock has a market capitalization of $108.11 billion, a P/E ratio of 16.27, a P/E/G ratio of 1.20 and a beta of 1.01. The business has a 50-day moving average price of $117.24 and a two-hundred day moving average price of $108.67.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its 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. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. The company had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.86 billion. During the same quarter last year, the firm earned $2.05 EPS. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. Equities analysts predict that Canadian Imperial Bank of Commerce will post 7.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods began coverage on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 21st. They issued a “market perform” rating for the company. Barclays reissued an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday. Royal Bank Of Canada raised their price target on shares of Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Weiss Ratings raised Canadian Imperial Bank of Commerce from a “buy (b)” rating to a “buy (b+)” rating in a report on Friday, July 31st. Finally, Scotiabank reaffirmed an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, June 16th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $167.00.

Canadian Imperial Bank of Commerce Company Profile

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.