UBS Group AG Has $47.60 Million Holdings in Canadian Imperial Bank of Commerce $CM

Key Points

• UBS Group AG increased its stake in Canadian Imperial Bank of Commerce by 33.5% in Q4, owning 525,299 shares worth about $47.6 million (≈0.06% of the company) after buying an additional 131,942 shares.
• Canadian Imperial Bank of Commerce beat expectations in its most recent quarter with $1.99 EPS versus estimates of $1.74 and revenue of $6.16 billion, up 15.3% year-over-year.
• The bank pays a quarterly dividend of $1.07 (annualized $4.28) for a yield of 3.8%, and analysts have an average rating of Moderate Buy with a consensus price target of $107.50.

UBS Group AG grew its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 33.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 525,299 shares of the bank's stock after buying an additional 131,942 shares during the quarter. UBS Group AG owned approximately 0.06% of Canadian Imperial Bank of Commerce worth $47,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in CM. CIBC Bancorp USA Inc. bought a new stake in Canadian Imperial Bank of Commerce in the third quarter worth approximately $11,217,000. Mackenzie Financial Corp raised its holdings in shares of Canadian Imperial Bank of Commerce by 1.1% during the 3rd quarter. Mackenzie Financial Corp now owns 6,380,638 shares of the bank's stock valued at $509,763,000 after purchasing an additional 67,738 shares in the last quarter. Cidel Asset Management Inc. raised its holdings in shares of Canadian Imperial Bank of Commerce by 12.2% during the 3rd quarter. Cidel Asset Management Inc. now owns 508,370 shares of the bank's stock valued at $40,632,000 after purchasing an additional 55,138 shares in the last quarter. Fisher Asset Management LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 34.8% in the 3rd quarter. Fisher Asset Management LLC now owns 1,686,816 shares of the bank's stock valued at $134,760,000 after purchasing an additional 435,799 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Canadian Imperial Bank of Commerce by 10.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,349,841 shares of the bank's stock worth $826,866,000 after purchasing an additional 980,811 shares in the last quarter. Institutional investors own 49.88% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on CM shares. Zacks Research downgraded shares of Canadian Imperial Bank of Commerce from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 28th. Barclays upgraded Canadian Imperial Bank of Commerce from an "underweight" rating to an "overweight" rating in a research note on Thursday, February 19th. Scotiabank reissued an "outperform" rating on shares of Canadian Imperial Bank of Commerce in a report on Monday. Finally, Weiss Ratings lowered Canadian Imperial Bank of Commerce from a "buy (a-)" rating to a "buy (b+)" rating in a report on Friday, April 17th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $107.50.

Canadian Imperial Bank of Commerce Stock Up 2.0%

CM opened at $112.27 on Thursday. The business has a 50 day moving average of $101.47 and a 200-day moving average of $93.97. The stock has a market capitalization of $103.09 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 1.13 and a beta of 1.05. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. Canadian Imperial Bank of Commerce has a 1-year low of $63.44 and a 1-year high of $113.28.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last announced its earnings results on Thursday, February 26th. The bank reported $1.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.74 by $0.25. Canadian Imperial Bank of Commerce had a net margin of 15.15% and a return on equity of 15.69%. The business had revenue of $6.16 billion for the quarter, compared to analyst estimates of $5.53 billion. During the same quarter in the previous year, the firm posted $2.20 earnings per share. Canadian Imperial Bank of Commerce's revenue was up 15.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 7.57 earnings per share for the current year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Stockholders of record on Friday, March 27th were given a dividend of $1.07 per share. The ex-dividend date of this dividend was Friday, March 27th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.8%. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 45.77%.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce NYSE: CM, commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada's largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC's activities span personal and business banking, wealth management, capital markets and corporate banking.

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