Canadian Imperial Bank of Commerce (NYSE:CM) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 7.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,765 shares of the bank’s stock after purchasing an additional 4,999 shares during the period. Assenagon Asset Management S.A.’s holdings in Canadian Imperial Bank of Commerce were worth $4,036,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. PDS Planning Inc increased its position in shares of Canadian Imperial Bank of Commerce by 3.8% during the fourth quarter. PDS Planning Inc now owns 5,167 shares of the bank’s stock worth $327,000 after purchasing an additional 189 shares in the last quarter. Gradient Investments LLC increased its position in shares of Canadian Imperial Bank of Commerce by 2.4% during the first quarter. Gradient Investments LLC now owns 8,278 shares of the bank’s stock worth $466,000 after purchasing an additional 191 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Canadian Imperial Bank of Commerce by 4.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank’s stock worth $255,000 after purchasing an additional 194 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its position in shares of Canadian Imperial Bank of Commerce by 0.7% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 33,094 shares of the bank’s stock worth $2,092,000 after purchasing an additional 222 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of Canadian Imperial Bank of Commerce by 7.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,977 shares of the bank’s stock valued at $251,000 after acquiring an additional 279 shares during the period. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Price Performance

NYSE:CM opened at $68.11 on Monday. Canadian Imperial Bank of Commerce has a one year low of $47.07 and a one year high of $69.88. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $64.03 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.62 and a beta of 1.05. The firm’s fifty day moving average is $63.86 and its two-hundred day moving average is $62.22.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings results on Thursday, May 29th. The bank reported $1.44 EPS for the quarter, beating the consensus estimate of $1.34 by $0.10. Canadian Imperial Bank of Commerce had a net margin of 11.10% and a return on equity of 14.01%. The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the company earned $1.75 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis. Research analysts expect that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be paid a dividend of $0.7024 per share. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.67. This represents a $2.81 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend is Friday, June 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 49.56%.

Analysts Set New Price Targets

Several research firms recently issued reports on CM. Royal Bank of Canada upped their target price on Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the company an “outperform” rating in a research report on Friday, May 30th. Scotiabank began coverage on Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They issued a “sector outperform” rating on the stock. Wall Street Zen raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Saturday, May 24th. BMO Capital Markets upped their price target on shares of Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the company an “outperform” rating in a report on Friday, May 30th. Finally, Jefferies Financial Group lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Monday, April 21st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.00.

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.