UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $52.31 Million Stock Position in Canadian Imperial Bank of Commerce $CM

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lowered its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 21.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 929,178 shares of the bank’s stock after selling 250,169 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.10% of Canadian Imperial Bank of Commerce worth $52,313,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Zurich Insurance Group Ltd FI boosted its position in Canadian Imperial Bank of Commerce by 1,784.1% during the 1st quarter. Zurich Insurance Group Ltd FI now owns 685,827 shares of the bank’s stock worth $38,622,000 after acquiring an additional 649,427 shares during the last quarter. Sciencast Management LP acquired a new position in Canadian Imperial Bank of Commerce during the 1st quarter worth approximately $546,000. Goldman Sachs Group Inc. boosted its position in Canadian Imperial Bank of Commerce by 405.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 5,187,068 shares of the bank’s stock worth $292,032,000 after acquiring an additional 4,160,938 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its position in Canadian Imperial Bank of Commerce by 3.6% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 4,021,652 shares of the bank’s stock worth $225,870,000 after acquiring an additional 139,645 shares during the last quarter. Finally, PDT Partners LLC acquired a new position in Canadian Imperial Bank of Commerce during the 1st quarter worth approximately $3,839,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Down 0.5%

CM opened at $79.16 on Monday. Canadian Imperial Bank of Commerce has a 1-year low of $53.62 and a 1-year high of $79.67. The stock’s fifty day simple moving average is $74.24 and its 200 day simple moving average is $66.79. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. The stock has a market cap of $73.58 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 1.71 and a beta of 1.03.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings results on Thursday, August 28th. The bank reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. Canadian Imperial Bank of Commerce had a return on equity of 14.67% and a net margin of 12.94%.The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.12 billion. During the same quarter in the prior year, the business earned $1.93 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, research analysts expect that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 28th. Investors of record on Monday, September 29th will be paid a $0.97 dividend. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. The ex-dividend date is Monday, September 29th. This represents a $3.88 dividend on an annualized basis and a yield of 4.9%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 47.64%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CM. Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Royal Bank Of Canada upped their price objective on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. National Bank Financial cut Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research note on Friday, May 30th. Finally, BMO Capital Markets upped their price objective on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Friday, May 30th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

About Canadian Imperial Bank of Commerce

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.