Canadian Imperial Bank of Commerce (NYSE:CM) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 7.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,765 shares of the bank's stock after acquiring an additional 4,999 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Canadian Imperial Bank of Commerce were worth $4,036,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CM. Operose Advisors LLC acquired a new position in Canadian Imperial Bank of Commerce in the 4th quarter valued at about $26,000. SBI Securities Co. Ltd. acquired a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $30,000. Sandy Spring Bank purchased a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $32,000. IFP Advisors Inc boosted its position in Canadian Imperial Bank of Commerce by 318.1% during the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank's stock worth $34,000 after acquiring an additional 404 shares during the last quarter. Finally, Lee Danner & Bass Inc. acquired a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $44,000. Institutional investors and hedge funds own 49.88% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CM. National Bank Financial lowered Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. Royal Bank Of Canada upped 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 note on Friday, May 30th. Jefferies Financial Group downgraded Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Finally, BMO Capital Markets upped their price objective on shares of Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of "Moderate Buy" and an average price target of $109.00.

Canadian Imperial Bank of Commerce Trading Down 0.2%

Canadian Imperial Bank of Commerce stock traded down $0.16 during midday trading on Thursday, reaching $68.44. The stock had a trading volume of 958,708 shares, compared to its average volume of 1,106,814. The stock's 50-day simple moving average is $64.59 and its 200 day simple moving average is $62.34. Canadian Imperial Bank of Commerce has a twelve month low of $47.11 and a twelve month high of $69.88. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $64.34 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 1.49 and a beta of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last released its quarterly earnings data on Thursday, May 29th. The bank reported $1.44 EPS 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 company had revenue of $5.09 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the business posted $1.75 EPS. The company's quarterly revenue was up 13.9% compared to the same quarter last year. Analysts expect that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, June 27th will be given a dividend of $0.7024 per share. This represents a $2.81 dividend on an annualized basis and a yield of 4.11%. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, June 27th. Canadian Imperial Bank of Commerce's payout ratio is 49.56%.

About Canadian Imperial Bank of Commerce

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.