80,394 Shares in Canadian Imperial Bank of Commerce (NYSE:CM) Bought by International Assets Investment Management LLC

International Assets Investment Management LLC bought a new position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 80,394 shares of the bank’s stock, valued at approximately $38,700,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CM. Vanguard Group Inc. lifted its stake in shares of Canadian Imperial Bank of Commerce by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 33,841,855 shares of the bank’s stock valued at $1,306,634,000 after purchasing an additional 544,942 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Canadian Imperial Bank of Commerce by 1.8% in the third quarter. Toronto Dominion Bank now owns 26,965,878 shares of the bank’s stock worth $1,041,153,000 after buying an additional 476,342 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Canadian Imperial Bank of Commerce by 0.4% during the 3rd quarter. CIBC Asset Management Inc now owns 10,287,048 shares of the bank’s stock worth $398,310,000 after acquiring an additional 41,841 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of 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 valued at $201,082,000 after acquiring an additional 251,039 shares during the last quarter. Finally, Scotia Capital Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 0.6% in the 3rd quarter. Scotia Capital Inc. now owns 4,190,637 shares of the bank’s stock valued at $161,672,000 after acquiring an additional 23,052 shares in the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on CM. Jefferies Financial Group started coverage on Canadian Imperial Bank of Commerce in a report on Thursday, February 22nd. They set a “buy” rating on the stock. Barclays started 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, Scotiabank raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a research report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock opened at $47.89 on Friday. The firm has a fifty day moving average price of $48.73 and a two-hundred day moving average price of $44.88. Canadian Imperial Bank of Commerce has a fifty-two week low of $34.35 and a fifty-two week high of $51.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market cap of $44.91 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 2.20 and a beta of 1.07.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Thursday, February 29th. The bank reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.10. Canadian Imperial Bank of Commerce had a return on equity of 13.07% and a net margin of 10.79%. The business had revenue of $4.60 billion for the quarter, compared to the consensus estimate of $4.47 billion. Analysts expect that Canadian Imperial Bank of Commerce will post 5.04 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 29th. Stockholders of record on Thursday, March 28th were given a dividend of $0.6634 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. This represents a $2.65 dividend on an annualized basis and a dividend yield of 5.54%. Canadian Imperial Bank of Commerce’s payout ratio is currently 54.75%.

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.