Fisher Asset Management LLC Acquires 435,799 Shares of Canadian Imperial Bank of Commerce $CM

Fisher Asset Management LLC raised its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 34.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,686,816 shares of the bank’s stock after purchasing an additional 435,799 shares during the quarter. Fisher Asset Management LLC owned 0.18% of Canadian Imperial Bank of Commerce worth $134,760,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Salem Investment Counselors Inc. acquired a new stake in Canadian Imperial Bank of Commerce in the third quarter valued at about $30,000. Toth Financial Advisory Corp bought a new position in shares of Canadian Imperial Bank of Commerce in the third quarter worth about $32,000. AdvisorNet Financial Inc boosted its stake in shares of Canadian Imperial Bank of Commerce by 300.0% in the 3rd quarter. AdvisorNet Financial Inc now owns 400 shares of the bank’s stock valued at $32,000 after purchasing an additional 300 shares in the last quarter. Grey Fox Wealth Advisors LLC bought a new stake in shares of Canadian Imperial Bank of Commerce during the 3rd quarter valued at approximately $34,000. Finally, Guerra Advisors Inc bought a new stake in shares of Canadian Imperial Bank of Commerce during the 3rd quarter valued at approximately $35,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Up 0.4%

NYSE:CM opened at $101.40 on Tuesday. The firm has a fifty day simple moving average of $94.39 and a two-hundred day simple moving average of $86.70. Canadian Imperial Bank of Commerce has a 12 month low of $53.62 and a 12 month high of $105.00. The stock has a market capitalization of $93.96 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.30 and a beta of 1.02. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.12.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data 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 15.20%. The company had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $5.53 billion. During the same quarter in the prior year, the firm earned $2.20 EPS. The business’s revenue was up 15.3% on a year-over-year basis. Analysts expect that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Friday, March 27th will be issued a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 45.34%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CM. Zacks Research downgraded Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 3rd. Raymond James Financial began coverage on Canadian Imperial Bank of Commerce in a research report on Tuesday, November 25th. They issued a “market perform” rating on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, January 21st. Barclays raised Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research note on Thursday, February 19th. Finally, Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Monday, November 3rd. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $107.50.

Canadian Imperial Bank of Commerce 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.