UBS Group AG Purchases 131,942 Shares of Canadian Imperial Bank of Commerce $CM

UBS Group AG lifted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 33.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 525,299 shares of the bank’s stock after purchasing an additional 131,942 shares during the quarter. UBS Group AG’s holdings in Canadian Imperial Bank of Commerce were worth $47,597,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Canadian Imperial Bank of Commerce by 2.1% during the fourth quarter. Vanguard Group Inc. now owns 43,097,841 shares of the bank’s stock worth $3,907,078,000 after buying an additional 876,974 shares in the last quarter. Gold Investment Management Ltd. raised its stake in shares of Canadian Imperial Bank of Commerce by 0.9% in the 4th quarter. Gold Investment Management Ltd. now owns 57,995 shares of the bank’s stock valued at $5,258,000 after buying an additional 516 shares in the last quarter. HB Wealth Management LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 23.7% during the 4th quarter. HB Wealth Management LLC now owns 5,894 shares of the bank’s stock worth $534,000 after acquiring an additional 1,131 shares during the period. M&T Bank Corp lifted its holdings in shares of Canadian Imperial Bank of Commerce by 570.4% during the 4th quarter. M&T Bank Corp now owns 55,345 shares of the bank’s stock worth $5,015,000 after acquiring an additional 47,090 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 3.1% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,366,305 shares of the bank’s stock valued at $304,871,000 after acquiring an additional 101,186 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 Canadian Imperial Bank of Commerce stock opened at $112.27 on Thursday. The stock has a market capitalization of $103.09 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 1.13 and a beta of 1.05. The firm’s 50-day moving average price is $101.47 and its two-hundred day moving average price is $93.97. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.13. Canadian Imperial Bank of Commerce has a 1-year low of $63.44 and a 1-year high of $113.28.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its earnings results on Thursday, February 26th. The bank reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.25. The company had revenue of $6.16 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.20 earnings per share. On average, equities analysts predict that Canadian Imperial Bank of Commerce will post 7.57 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 28th. Shareholders of record on Friday, March 27th were paid a $1.07 dividend. The ex-dividend date of this dividend was Friday, March 27th. This represents a $4.28 dividend on an annualized basis and a yield of 3.8%. Canadian Imperial Bank of Commerce’s payout ratio is currently 45.77%.

Wall Street Analysts Forecast Growth

CM has been the topic of a number of analyst reports. Weiss Ratings cut shares of Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, April 17th. Barclays raised Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a report on Thursday, February 19th. Scotiabank reiterated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday. Finally, Zacks Research cut Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 28th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and an average 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.