Zurcher Kantonalbank Zurich Cantonalbank Buys 192,753 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 51.1% in the third quarter, HoldingsChannel reports. The fund owned 570,008 shares of the bank’s stock after acquiring an additional 192,753 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Canadian Imperial Bank of Commerce were worth $35,003,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ridgewood Investments LLC bought a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter valued at $29,000. BNP Paribas Financial Markets bought a new stake in shares of Canadian Imperial Bank of Commerce in the third quarter valued at about $44,000. Blue Trust Inc. increased its position in Canadian Imperial Bank of Commerce by 571.6% during the third quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock worth $45,000 after acquiring an additional 623 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in Canadian Imperial Bank of Commerce by 23.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock worth $56,000 after purchasing an additional 171 shares in the last quarter. Finally, City State Bank bought a new stake in Canadian Imperial Bank of Commerce in the 3rd quarter valued at about $61,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Down 0.1 %

CM stock opened at $64.68 on Friday. The firm has a 50-day moving average price of $62.72 and a 200-day moving average price of $55.40. Canadian Imperial Bank of Commerce has a 12 month low of $37.97 and a 12 month high of $65.89. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $61.10 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 1.71 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, August 29th. The bank reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.19. The firm had revenue of $6.60 billion for the quarter, compared to analyst estimates of $6.28 billion. Canadian Imperial Bank of Commerce had a net margin of 10.66% and a return on equity of 13.50%. The company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the business posted $1.14 earnings per share. As a group, equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.27 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CM. BMO Capital Markets boosted their price target on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Desjardins raised Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 2nd. StockNews.com cut shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, October 19th. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research note on Friday, August 30th. Finally, Cormark raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 30th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $81.00.

Canadian Imperial Bank of Commerce 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.