Canadian Imperial Bank of Commerce (CM) is Acadian Asset Management LLC’s 3rd Largest Position

Acadian Asset Management LLC increased its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 0.9% in the third quarter, HoldingsChannel.com reports. The firm owned 5,910,430 shares of the bank’s stock after acquiring an additional 55,247 shares during the period. Canadian Imperial Bank of Commerce comprises approximately 2.3% of Acadian Asset Management LLC’s portfolio, making the stock its 3rd largest holding. Acadian Asset Management LLC’s holdings in Canadian Imperial Bank of Commerce were worth $553,410,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. HighPoint Advisor Group LLC bought a new position in Canadian Imperial Bank of Commerce during the third quarter worth about $195,000. Mawer Investment Management Ltd. bought a new position in Canadian Imperial Bank of Commerce during the second quarter worth about $205,000. Iberiabank Corp bought a new position in Canadian Imperial Bank of Commerce during the third quarter worth about $217,000. Laurion Capital Management LP bought a new position in Canadian Imperial Bank of Commerce during the second quarter worth about $233,000. Finally, Flagship Harbor Advisors LLC bought a new position in Canadian Imperial Bank of Commerce during the second quarter worth about $265,000. Hedge funds and other institutional investors own 46.23% of the company’s stock.

Shares of CM opened at $86.52 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.12. Canadian Imperial Bank of Commerce has a 1 year low of $84.88 and a 1 year high of $100.01. The stock has a market cap of $38.02 billion, a price-to-earnings ratio of 9.73, a P/E/G ratio of 1.66 and a beta of 1.20.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Thursday, August 23rd. The bank reported $3.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.22 by $0.86. Canadian Imperial Bank of Commerce had a return on equity of 17.77% and a net margin of 21.27%. The business had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the previous year, the business posted $2.77 EPS. As a group, equities analysts predict that Canadian Imperial Bank of Commerce will post 9.35 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 29th. Stockholders of record on Friday, September 28th were issued a dividend of $1.0412 per share. This represents a $4.16 annualized dividend and a dividend yield of 4.81%. The ex-dividend date of this dividend was Thursday, September 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. Canadian Imperial Bank of Commerce’s payout ratio is 46.91%.

A number of equities analysts have issued reports on the company. ValuEngine upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Thursday, August 30th. TheStreet upgraded Canadian Imperial Bank of Commerce from a “c” rating to a “b-” rating in a report on Thursday, August 23rd. Finally, Zacks Investment Research cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Monday, August 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $123.00.

Canadian Imperial Bank of Commerce Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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