Assetmark Inc. Has $20.80 Million Holdings in Canadian Imperial Bank of Commerce $CM

Assetmark Inc. lowered its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 5.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 260,398 shares of the bank’s stock after selling 14,069 shares during the period. Assetmark Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $20,803,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Salem Investment Counselors Inc. bought a new position in Canadian Imperial Bank of Commerce during the third quarter worth $30,000. Toth Financial Advisory Corp acquired a new stake in Canadian Imperial Bank of Commerce during the 3rd quarter worth about $32,000. AdvisorNet Financial Inc grew its holdings in Canadian Imperial Bank of Commerce by 300.0% during the 3rd quarter. AdvisorNet Financial Inc now owns 400 shares of the bank’s stock worth $32,000 after acquiring an additional 300 shares during the period. Grey Fox Wealth Advisors LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter worth about $34,000. Finally, Guerra Advisors Inc acquired a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at about $35,000. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Trading Up 0.5%

NYSE:CM opened at $95.78 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 1.04. Canadian Imperial Bank of Commerce has a one year low of $53.62 and a one year high of $98.50. The company has a market cap of $88.75 billion, a PE ratio of 15.73, a PEG ratio of 1.29 and a beta of 1.02. The firm has a 50-day moving average of $92.84 and a 200-day moving average of $84.54.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, December 4th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.08. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.23 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.93% and a net margin of 13.57%.The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.91 EPS. As a group, equities research analysts expect that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 28th. Investors of record on Monday, December 29th were issued a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a yield of 4.5%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.97. The ex-dividend date was Monday, December 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 50.25%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Raymond James Financial started coverage on Canadian Imperial Bank of Commerce in a research note on Tuesday, November 25th. They set a “market perform” rating for the company. Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, January 21st. Finally, Zacks Research downgraded shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company 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 (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.