Canadian Imperial Bank of Commerce (NYSE:CM) Shares Purchased by Allianz Asset Management GmbH

Allianz Asset Management GmbH increased its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 13.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 78,376 shares of the bank's stock after purchasing an additional 9,426 shares during the period. Allianz Asset Management GmbH's holdings in Canadian Imperial Bank of Commerce were worth $4,408,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of CM. American Century Companies Inc. raised its holdings in Canadian Imperial Bank of Commerce by 8.5% in the 4th quarter. American Century Companies Inc. now owns 299,211 shares of the bank's stock valued at $18,927,000 after acquiring an additional 23,403 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Canadian Imperial Bank of Commerce by 16.1% in the 4th quarter. Prudential Financial Inc. now owns 37,295 shares of the bank's stock valued at $2,358,000 after buying an additional 5,185 shares during the period. Blair William & Co. IL grew its stake in shares of Canadian Imperial Bank of Commerce by 7.3% in the 4th quarter. Blair William & Co. IL now owns 5,658 shares of the bank's stock valued at $358,000 after buying an additional 383 shares during the period. Orion Portfolio Solutions LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 6.2% in the 4th quarter. Orion Portfolio Solutions LLC now owns 16,921 shares of the bank's stock valued at $1,070,000 after buying an additional 986 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 2.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 216,786 shares of the bank's stock valued at $13,698,000 after buying an additional 4,269 shares during the period. Institutional investors and hedge funds own 49.88% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wall Street Zen cut shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. National Bank Financial cut shares of 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 increased their price target on shares of 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 cut shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. Finally, BMO Capital Markets increased their price target 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $109.00.

Canadian Imperial Bank of Commerce Stock Performance

NYSE:CM opened at $73.95 on Tuesday. 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 $68.89 billion, a P/E ratio of 13.00, a PEG ratio of 1.60 and a beta of 1.05. The company has a 50 day moving average price of $70.25 and a 200 day moving average price of $63.80. Canadian Imperial Bank of Commerce has a fifty-two week low of $47.55 and a fifty-two week high of $74.63.

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 net margin of 12.19% and a return on equity of 14.51%. The firm's quarterly revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the company posted $1.75 EPS. Equities research analysts forecast 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 announced a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Friday, June 27th were issued a dividend of $0.7024 per share. The ex-dividend date of this dividend was Friday, June 27th. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. This represents a $2.81 dividend on an annualized basis and a yield of 3.80%. Canadian Imperial Bank of Commerce's dividend payout ratio is 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.

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