Maryland State Retirement & Pension System Has $8.73 Million Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Maryland State Retirement & Pension System grew its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 12.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 186,192 shares of the bank’s stock after buying an additional 20,786 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Canadian Imperial Bank of Commerce were worth $8,728,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CM. Evergreen Capital Management LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 43.8% in the 3rd quarter. Evergreen Capital Management LLC now owns 8,536 shares of the bank’s stock worth $330,000 after purchasing an additional 2,602 shares during the last quarter. Legal & General Group Plc grew its holdings in Canadian Imperial Bank of Commerce by 5.1% during the 3rd quarter. Legal & General Group Plc now owns 5,185,512 shares of the bank’s stock worth $201,082,000 after acquiring an additional 251,039 shares during the last quarter. Scotia Capital Inc. grew its holdings in Canadian Imperial Bank of Commerce by 0.6% during the 3rd quarter. Scotia Capital Inc. now owns 4,190,637 shares of the bank’s stock worth $161,672,000 after acquiring an additional 23,052 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Canadian Imperial Bank of Commerce by 10.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,698,340 shares of the bank’s stock worth $104,903,000 after acquiring an additional 244,331 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in Canadian Imperial Bank of Commerce by 177.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 990,605 shares of the bank’s stock worth $38,415,000 after acquiring an additional 633,770 shares during the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Down 0.0 %

Shares of NYSE:CM traded down $0.01 during mid-day trading on Friday, reaching $48.45. The stock had a trading volume of 41,869 shares, compared to its average volume of 1,549,386. The firm has a market cap of $45.69 billion, a PE ratio of 9.97, a price-to-earnings-growth ratio of 1.91 and a beta of 1.06. The firm has a 50 day simple moving average of $48.40 and a two-hundred day simple moving average of $47.86. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15. Canadian Imperial Bank of Commerce has a twelve month low of $34.35 and a twelve month high of $51.14.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, May 30th. The bank reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.07. The business had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.48 billion. Canadian Imperial Bank of Commerce had a net margin of 10.46% and a return on equity of 13.06%. On average, research analysts predict that Canadian Imperial Bank of Commerce will post 5.05 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.653 per share. The ex-dividend date is Friday, June 28th. This represents a $2.61 annualized dividend and a yield of 5.39%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 53.70%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CM shares. BMO Capital Markets increased their price objective on shares of Canadian Imperial Bank of Commerce from $74.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. StockNews.com lowered shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Thursday, June 20th. Keefe, Bruyette & Woods raised shares of Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a research note on Monday, June 3rd. Barclays began coverage on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, March 20th. They issued an “underweight” rating on the stock. Finally, UBS Group began coverage on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $67.00.

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.