Fisher Asset Management LLC Acquires 415,799 Shares of Canadian Imperial Bank of Commerce $CM

Fisher Asset Management LLC increased its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 24.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,102,615 shares of the bank’s stock after purchasing an additional 415,799 shares during the period. Fisher Asset Management LLC’s holdings in Canadian Imperial Bank of Commerce were worth $190,518,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sequoia Financial Advisors LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 1.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 9,716 shares of the bank’s stock valued at $880,000 after purchasing an additional 114 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 3.5% during the third quarter. Parallel Advisors LLC now owns 3,404 shares of the bank’s stock valued at $272,000 after purchasing an additional 116 shares in the last quarter. McIlrath & Eck LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 7.1% during the fourth quarter. McIlrath & Eck LLC now owns 1,936 shares of the bank’s stock valued at $175,000 after purchasing an additional 128 shares in the last quarter. Bridgewater Advisors Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 4.2% during the fourth quarter. Bridgewater Advisors Inc. now owns 3,402 shares of the bank’s stock valued at $311,000 after purchasing an additional 138 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Canadian Imperial Bank of Commerce by 12.7% during the fourth quarter. Fifth Third Bancorp now owns 1,337 shares of the bank’s stock valued at $121,000 after purchasing an additional 151 shares in the last quarter. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM opened at $115.56 on Tuesday. The company has a market cap of $106.12 billion, a price-to-earnings ratio of 16.85, a price-to-earnings-growth ratio of 1.21 and a beta of 1.05. Canadian Imperial Bank of Commerce has a twelve month low of $66.74 and a twelve month high of $116.12. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $104.69 and a two-hundred day moving average of $96.74.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, February 26th. The bank reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.25. The company had revenue of $6.16 billion during the quarter, compared to the consensus estimate of $5.53 billion. Canadian Imperial Bank of Commerce had a net margin of 15.15% and a return on equity of 15.69%. Canadian Imperial Bank of Commerce’s revenue was up 15.3% compared to the same quarter last year. During the same period last year, the firm earned $2.20 earnings per share. As a group, analysts predict that Canadian Imperial Bank of Commerce will post 7.48 earnings per share for the current fiscal 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 paid a dividend of $1.07 per share. This represents a $4.28 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Friday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 45.77%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CM. Barclays upgraded shares of Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research note on Thursday, February 19th. Weiss Ratings upgraded shares of Canadian Imperial Bank of Commerce from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday. Scotiabank restated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, May 4th. Raymond James Financial restated a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Finally, Zacks Research downgraded shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.