Asahi Life Asset Management CO. LTD. Purchases New Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Asahi Life Asset Management CO. LTD. bought a new position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,930 shares of the bank's stock, valued at approximately $390,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CM. Operose Advisors LLC purchased a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $26,000. HM Payson & Co. purchased a new position in shares of Canadian Imperial Bank of Commerce during the first quarter valued at approximately $29,000. TruNorth Capital Management LLC boosted its position in shares of Canadian Imperial Bank of Commerce by 156.0% during the first quarter. TruNorth Capital Management LLC now owns 512 shares of the bank's stock valued at $29,000 after buying an additional 312 shares during the period. Sandy Spring Bank purchased a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $32,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 49.88% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CM shares. National Bank Financial lowered Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Jefferies Financial Group lowered Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Monday, April 21st. BMO Capital Markets boosted their price target on 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, Royal Bank Of Canada upped their target price on Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $109.00.

Canadian Imperial Bank of Commerce Trading Down 0.4%

Shares of CM traded down $0.28 during trading on Tuesday, reaching $72.03. 192,983 shares of the company traded hands, compared to its average volume of 1,129,867. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16. The stock has a 50-day simple moving average of $68.51 and a 200-day simple moving average of $63.06. Canadian Imperial Bank of Commerce has a twelve month low of $47.55 and a twelve month high of $73.52. The stock has a market cap of $67.72 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 1.58 and a beta of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last posted its quarterly earnings data on Thursday, May 29th. The bank reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.10. Canadian Imperial Bank of Commerce had a return on equity of 14.51% and a net margin of 12.19%. The business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the company earned $1.75 earnings per share. The company's revenue was up 13.9% on a year-over-year basis. On average, analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be given a dividend of $0.7024 per share. This is a boost 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 3.90%. The ex-dividend date of this dividend is Friday, June 27th. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 49.56%.

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.