Axa S.A. Acquires 109,119 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

AXA S.A. grew its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 36.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 408,593 shares of the bank's stock after purchasing an additional 109,119 shares during the quarter. AXA S.A.'s holdings in Canadian Imperial Bank of Commerce were worth $25,835,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Franklin Resources Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 4.4% in the 3rd quarter. Franklin Resources Inc. now owns 880,838 shares of the bank's stock worth $54,606,000 after acquiring an additional 37,419 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Canadian Imperial Bank of Commerce by 6.1% during the third quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank's stock valued at $359,320,000 after buying an additional 334,545 shares during the period. Versant Capital Management Inc grew its stake in shares of Canadian Imperial Bank of Commerce by 1,069.4% during the fourth quarter. Versant Capital Management Inc now owns 725 shares of the bank's stock valued at $46,000 after buying an additional 663 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 4.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank's stock worth $255,000 after buying an additional 194 shares during the period. Finally, Ritholtz Wealth Management lifted its stake in shares of Canadian Imperial Bank of Commerce by 14.6% in the 4th quarter. Ritholtz Wealth Management now owns 16,393 shares of the bank's stock valued at $1,037,000 after acquiring an additional 2,085 shares during the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Stock Up 0.4 %

Shares of NYSE CM traded up $0.26 during mid-day trading on Wednesday, hitting $63.93. 755,566 shares of the stock traded hands, compared to its average volume of 1,129,189. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $60.10 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 1.62 and a beta of 1.06. The stock has a fifty day moving average price of $58.32 and a 200-day moving average price of $61.64. Canadian Imperial Bank of Commerce has a 52 week low of $46.99 and a 52 week high of $67.45.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, March 28th were paid a $0.6723 dividend. This represents a $2.69 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date was Friday, March 28th. Canadian Imperial Bank of Commerce's payout ratio is 48.03%.

Analysts Set New Price Targets

A number of equities analysts have commented on CM shares. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and upped their price target for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. Finally, StockNews.com cut Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $92.00.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.