Assenagon Asset Management S.A. Boosts Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Assenagon Asset Management S.A. raised its position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 7.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 71,765 shares of the bank's stock after purchasing an additional 4,999 shares during the period. 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 modified their holdings of the business. Norges Bank acquired a new position in Canadian Imperial Bank of Commerce in the fourth quarter valued at about $570,477,000. Capital International Investors purchased a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at approximately $424,386,000. FIL Ltd lifted its holdings in shares of Canadian Imperial Bank of Commerce by 53.6% in the 4th quarter. FIL Ltd now owns 12,387,607 shares of the bank's stock worth $783,613,000 after acquiring an additional 4,321,451 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Canadian Imperial Bank of Commerce by 37.3% during the 4th quarter. JPMorgan Chase & Co. now owns 8,043,106 shares of the bank's stock worth $508,566,000 after purchasing an additional 2,185,262 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in Canadian Imperial Bank of Commerce by 41.1% in the 4th quarter. Mackenzie Financial Corp now owns 6,835,795 shares of the bank's stock valued at $431,952,000 after purchasing an additional 1,990,520 shares during the last quarter. Hedge funds and other institutional investors own 49.88% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Jefferies Financial Group cut shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Monday, April 21st. Royal Bank of Canada lifted their target price on Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Scotiabank began coverage on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 15th. They issued a "sector outperform" rating for the company. Wall Street Zen upgraded shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, National Bank Financial downgraded Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $109.00.

Canadian Imperial Bank of Commerce Price Performance

NYSE:CM traded up $0.58 during mid-day trading on Monday, hitting $68.71. 1,053,452 shares of the company's stock traded hands, compared to its average volume of 1,105,831. Canadian Imperial Bank of Commerce has a 1 year low of $47.07 and a 1 year high of $69.88. The company has a market cap of $64.60 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 1.62 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The firm's 50 day simple moving average is $63.86 and its 200 day simple moving average is $62.22.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last issued its quarterly earnings data on Thursday, May 29th. The bank reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.10. The firm had revenue of $5.09 billion during the quarter, compared to the consensus estimate of $4.78 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.01% and a net margin of 11.10%. The company's quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.75 EPS. Sell-side 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 business 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 an increase 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 4.09%. 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.