Assetmark Inc. Grows Holdings in Canadian Imperial Bank of Commerce $CM

Assetmark Inc. increased its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 2.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 267,915 shares of the bank’s stock after purchasing an additional 7,517 shares during the period. Assetmark Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $24,276,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in CM. Sivia Capital Partners LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce in the 2nd quarter valued at $262,000. EverSource Wealth Advisors LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 12.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,801 shares of the bank’s stock valued at $128,000 after purchasing an additional 193 shares in the last quarter. Brown Advisory Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 2.6% in the 2nd quarter. Brown Advisory Inc. now owns 6,277 shares of the bank’s stock valued at $445,000 after purchasing an additional 160 shares in the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of Canadian Imperial Bank of Commerce by 74.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 336,017 shares of the bank’s stock valued at $23,833,000 after purchasing an additional 143,588 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 7,315.0% in the 2nd quarter. NewEdge Advisors LLC now owns 2,966 shares of the bank’s stock valued at $210,000 after purchasing an additional 2,926 shares in the last quarter. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Wall Street Analyst Weigh In

CM has been the subject of several research reports. Weiss Ratings upgraded shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, March 10th. Barclays upgraded shares of Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a report on Thursday, February 19th. Finally, Zacks Research upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 4th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of “Moderate Buy” and a consensus target price of $107.50.

Canadian Imperial Bank of Commerce Stock Performance

Shares of NYSE CM opened at $107.36 on Thursday. The firm’s 50-day moving average price is $98.22 and its 200-day moving average price is $91.25. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. The company has a market cap of $98.58 billion, a PE ratio of 15.65, a PEG ratio of 1.10 and a beta of 1.00. Canadian Imperial Bank of Commerce has a 52-week low of $58.00 and a 52-week high of $107.52.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, February 26th. The bank reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.25. The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $5.53 billion. Canadian Imperial Bank of Commerce had a net margin of 15.15% and a return on equity of 15.69%. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.20 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Friday, March 27th will be paid a dividend of $1.07 per share. The ex-dividend date is Friday, March 27th. This represents a $4.28 dividend on an annualized basis and a yield of 4.0%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 45.77%.

Canadian Imperial Bank of Commerce Profile

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.