BTG Pactual Asset Management US LLC Makes New $1.27 Million Investment in Canadian Imperial Bank of Commerce (NYSE:CM)

BTG Pactual Asset Management US LLC bought a new stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,100 shares of the bank's stock, valued at approximately $1,271,000.

Several other institutional investors and hedge funds have also made changes to their positions in CM. Townsquare Capital LLC acquired a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at approximately $238,000. Scotia Capital Inc. boosted its stake in Canadian Imperial Bank of Commerce by 0.5% during the 4th quarter. Scotia Capital Inc. now owns 4,364,540 shares of the bank's stock valued at $275,414,000 after acquiring an additional 23,315 shares during the last quarter. Raymond James Financial Inc. bought a new position in Canadian Imperial Bank of Commerce during the 4th quarter valued at $24,997,000. Texas Yale Capital Corp. grew its holdings in Canadian Imperial Bank of Commerce by 18.0% during the 4th quarter. Texas Yale Capital Corp. now owns 6,570 shares of the bank's stock worth $415,000 after acquiring an additional 1,000 shares in the last quarter. Finally, APG Asset Management N.V. bought a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth about $31,469,000. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. StockNews.com upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research note on Monday. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from $97.00 to $103.00 in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of NYSE:CM traded up $0.17 during trading on Friday, hitting $58.94. 588,465 shares of the company traded hands, compared to its average volume of 1,144,478. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The business's fifty day moving average is $58.19 and its 200-day moving average is $61.56. The stock has a market capitalization of $55.41 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 1.62 and a beta of 0.98. Canadian Imperial Bank of Commerce has a one year low of $46.50 and a one year high of $67.45.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be given a $0.6723 dividend. This represents a $2.69 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 48.03%.

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.