International Assets Investment Management LLC Makes New $38.70 Million Investment in Canadian Imperial Bank of Commerce (NYSE:CM)

International Assets Investment Management LLC purchased a new position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 80,394 shares of the bank's stock, valued at approximately $38,700,000.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Canadian Imperial Bank of Commerce by 1.6% in the third quarter. Vanguard Group Inc. now owns 33,841,855 shares of the bank's stock valued at $1,306,634,000 after purchasing an additional 544,942 shares during the period. Toronto Dominion Bank increased its stake in Canadian Imperial Bank of Commerce by 1.8% during the 3rd quarter. Toronto Dominion Bank now owns 26,965,878 shares of the bank's stock worth $1,041,153,000 after buying an additional 476,342 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Canadian Imperial Bank of Commerce by 1.5% during the third quarter. National Bank of Canada FI now owns 15,926,778 shares of the bank's stock valued at $599,363,000 after acquiring an additional 230,044 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Canadian Imperial Bank of Commerce by 0.4% during the third quarter. CIBC Asset Management Inc now owns 10,287,048 shares of the bank's stock valued at $398,310,000 after acquiring an additional 41,841 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $305,412,000. Hedge funds and other institutional investors own 49.88% of the company's stock.

Analysts Set New Price Targets

CM has been the topic of a number of research reports. Scotiabank upgraded Canadian Imperial Bank of Commerce from a "sector perform" rating to a "sector outperform" rating in a report on Tuesday, February 20th. National Bank Financial raised shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating in a research note on Wednesday, December 20th. Jefferies Financial Group began coverage on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, February 22nd. They issued a "buy" rating on the stock. Bank of America upgraded Canadian Imperial Bank of Commerce from an "underperform" rating to a "neutral" rating in a report on Monday, December 18th. Finally, Barclays started coverage on Canadian Imperial Bank of Commerce in a report on Wednesday, March 20th. They issued an "underweight" rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $63.00.

Canadian Imperial Bank of Commerce Trading Up 0.1 %

CM stock traded up $0.03 during midday trading on Tuesday, hitting $50.21. 962,264 shares of the company's stock were exchanged, compared to its average volume of 1,862,108. Canadian Imperial Bank of Commerce has a 1-year low of $34.35 and a 1-year high of $51.14. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $47.07 billion, a PE ratio of 10.37, a P/E/G ratio of 2.34 and a beta of 1.06. The business has a 50-day simple moving average of $47.90 and a two-hundred day simple moving average of $43.76.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last issued its quarterly earnings data on Thursday, February 29th. The bank reported $1.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.24 by $0.10. Canadian Imperial Bank of Commerce had a return on equity of 13.07% and a net margin of 10.79%. The firm had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.47 billion. On average, sell-side analysts predict that Canadian Imperial Bank of Commerce will post 5.04 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Thursday, March 28th will be issued a $0.6634 dividend. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.66. This represents a $2.65 annualized dividend and a dividend yield of 5.29%. The ex-dividend date is Wednesday, March 27th. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 26.45%.

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.