Asahi Life Asset Management CO. LTD. Has $278,000 Stake in Canadian Imperial Bank of Commerce $CM

Asahi Life Asset Management CO. LTD. lowered its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 43.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,930 shares of the bank’s stock after selling 3,000 shares during the quarter. Asahi Life Asset Management CO. LTD.’s holdings in Canadian Imperial Bank of Commerce were worth $278,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Genus Capital Management Inc. lifted its stake in shares of Canadian Imperial Bank of Commerce by 171.1% in the second quarter. Genus Capital Management Inc. now owns 24,835 shares of the bank’s stock valued at $1,759,000 after buying an additional 15,675 shares in the last quarter. Crestwood Advisors Group LLC raised its holdings in shares of Canadian Imperial Bank of Commerce by 4.2% in the 2nd quarter. Crestwood Advisors Group LLC now owns 7,191 shares of the bank’s stock worth $509,000 after acquiring an additional 287 shares during the last quarter. NewSquare Capital LLC lifted its position in Canadian Imperial Bank of Commerce by 3.4% in the 2nd quarter. NewSquare Capital LLC now owns 98,357 shares of the bank’s stock valued at $6,967,000 after acquiring an additional 3,205 shares in the last quarter. Code Waechter LLC bought a new position in Canadian Imperial Bank of Commerce in the 2nd quarter valued at about $246,000. Finally, Bridgewater Advisors Inc. acquired a new position in Canadian Imperial Bank of Commerce during the 2nd quarter valued at about $231,000. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock opened at $84.12 on Friday. The business’s fifty day simple moving average is $80.65 and its 200 day simple moving average is $73.28. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a 12 month low of $53.62 and a 12 month high of $84.32. The firm has a market capitalization of $78.13 billion, a P/E ratio of 14.21, a price-to-earnings-growth ratio of 1.76 and a beta of 1.03.

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

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 28th. Stockholders of record on Monday, September 29th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Monday, September 29th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.6%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. Canadian Imperial Bank of Commerce’s payout ratio is currently 47.64%.

Wall Street Analysts Forecast Growth

CM has been the subject of several analyst reports. Royal Bank Of Canada increased 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. Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and an average price target of $107.50.

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.