Axa S.A. Raises Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

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

Other hedge funds have also made changes to their positions in the company. Crews Bank & Trust purchased a new position in Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $25,000. Operose Advisors LLC bought a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at $26,000. SBI Securities Co. Ltd. purchased a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at $30,000. Sandy Spring Bank bought a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth $32,000. Finally, IFP Advisors Inc lifted its stake in shares of Canadian Imperial Bank of Commerce by 318.1% during the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank's stock worth $34,000 after purchasing an additional 404 shares during the last quarter. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Stock Down 0.3 %

Shares of CM traded down $0.21 during mid-day trading on Friday, hitting $63.55. 453,545 shares of the company traded hands, compared to its average volume of 1,129,118. The business has a 50 day moving average of $58.53 and a 200 day moving average of $61.65. The company has a market capitalization of $59.75 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 1.62 and a beta of 1.06. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a 1-year low of $46.99 and a 1-year high of $67.45.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, March 28th were paid a dividend of $0.6723 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.69 annualized dividend and a dividend yield of 4.23%. Canadian Imperial Bank of Commerce's payout ratio is currently 48.03%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. StockNews.com downgraded shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Jefferies Financial Group lowered shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price 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.