Canadian Imperial Bank of Commerce $CM Holdings Raised by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG lifted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 236.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,225 shares of the bank’s stock after acquiring an additional 19,829 shares during the period. J. Safra Sarasin Holding AG’s holdings in Canadian Imperial Bank of Commerce were worth $2,562,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CM. Salem Investment Counselors Inc. acquired a new position in Canadian Imperial Bank of Commerce in the third quarter worth $30,000. Toth Financial Advisory Corp bought a new stake in Canadian Imperial Bank of Commerce during the third quarter valued at $32,000. AdvisorNet Financial Inc raised its holdings in shares of Canadian Imperial Bank of Commerce by 300.0% during the third quarter. AdvisorNet Financial Inc now owns 400 shares of the bank’s stock worth $32,000 after purchasing an additional 300 shares during the period. Larson Financial Group LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 119.7% in the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock worth $32,000 after buying an additional 219 shares during the last quarter. Finally, Grey Fox Wealth Advisors LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter worth about $34,000. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Price Performance

NYSE CM opened at $94.71 on Wednesday. Canadian Imperial Bank of Commerce has a 12 month low of $53.62 and a 12 month high of $105.00. The firm has a market capitalization of $87.55 billion, a PE ratio of 13.81, a P/E/G ratio of 0.95 and a beta of 1.00. The company’s 50 day simple moving average is $96.59 and its 200 day simple moving average is $89.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.02 and a quick ratio of 1.02.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Thursday, February 26th. The bank reported $1.99 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.25. Canadian Imperial Bank of Commerce had a return on equity of 15.69% and a net margin of 15.15%.The firm had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $5.53 billion. During the same period in the prior year, the firm posted $2.20 earnings per share. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. As a group, equities research analysts forecast 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 dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Friday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 45.77%.

Wall Street Analyst Weigh In

CM has been the subject of a number of recent research reports. Zacks Research raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 4th. Weiss Ratings raised shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, March 10th. Finally, Barclays upgraded Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research note on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

About Canadian Imperial Bank of Commerce

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.