Canadian Imperial Bank of Commerce $CM Shares Bought by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG increased its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 236.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,225 shares of the bank’s stock after purchasing an additional 19,829 shares during the quarter. 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 quarter.

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

Analysts Set New Price Targets

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

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM opened at $94.71 on Wednesday. The company’s fifty day moving average is $96.59 and its two-hundred day moving average is $89.77. The company has a market cap of $87.55 billion, a P/E ratio of 13.81, a price-to-earnings-growth ratio of 0.95 and a beta of 1.00. Canadian Imperial Bank of Commerce has a 12-month low of $53.62 and a 12-month high of $105.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.13.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, February 26th. The bank reported $1.99 EPS for the quarter, topping the consensus estimate 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 business had revenue of $6.16 billion during the quarter, compared to analysts’ expectations of $5.53 billion. During the same quarter last 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. Equities analysts expect that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Shareholders of record on Friday, March 27th will be given a dividend of $1.07 per share. The ex-dividend date is Friday, March 27th. This represents a $4.28 dividend on an annualized basis and a yield of 4.5%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 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.