6,930 Shares in Canadian Imperial Bank of Commerce (NYSE:CM) Bought by Asahi Life Asset Management CO. LTD.

Asahi Life Asset Management CO. LTD. acquired a new position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,930 shares of the bank's stock, valued at approximately $390,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Canadian Imperial Bank of Commerce by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 39,385,238 shares of the bank's stock worth $2,491,431,000 after purchasing an additional 749,843 shares in the last quarter. TD Asset Management Inc. grew its stake in Canadian Imperial Bank of Commerce by 3.7% in the fourth quarter. TD Asset Management Inc. now owns 23,600,495 shares of the bank's stock worth $1,492,138,000 after purchasing an additional 851,164 shares in the last quarter. Toronto Dominion Bank grew its stake in Canadian Imperial Bank of Commerce by 1.1% in the fourth quarter. Toronto Dominion Bank now owns 22,138,015 shares of the bank's stock worth $1,398,619,000 after purchasing an additional 234,088 shares in the last quarter. FIL Ltd grew its stake in Canadian Imperial Bank of Commerce by 53.6% in the fourth quarter. FIL Ltd now owns 12,387,607 shares of the bank's stock worth $783,613,000 after purchasing an additional 4,321,451 shares in the last quarter. Finally, Norges Bank bought a new position in Canadian Imperial Bank of Commerce in the fourth quarter worth approximately $570,477,000. Institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Stock Up 0.6%

Shares of Canadian Imperial Bank of Commerce stock traded up $0.43 during trading on Thursday, reaching $73.02. The company's stock had a trading volume of 800,236 shares, compared to its average volume of 1,124,844. 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 company has a market cap of $68.15 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 1.57 and a beta of 1.05. Canadian Imperial Bank of Commerce has a 1-year low of $47.55 and a 1-year high of $73.52. The company has a 50-day simple moving average of $69.04 and a two-hundred day simple moving average of $63.26.

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. The firm had revenue of $5.09 billion during the quarter, compared to analysts' expectations of $4.78 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.51% and a net margin of 12.19%. The business's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.75 EPS. As a group, equities analysts forecast 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 $0.7024 dividend. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. The ex-dividend date is Friday, June 27th. This represents a $2.81 dividend on an annualized basis and a dividend yield of 3.85%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is presently 49.56%.

Analyst Upgrades and Downgrades

CM has been the topic of several recent research reports. BMO Capital Markets increased their target price on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Scotiabank initiated coverage on Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They set a "sector outperform" rating on the stock. Wall Street Zen raised Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Finally, Royal Bank Of Canada increased their target price on Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $109.00.

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.