Canada Pension Plan Investment Board boosted its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 13.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,922,284 shares of the bank's stock after buying an additional 600,400 shares during the period. Canada Pension Plan Investment Board owned about 0.52% of Canadian Imperial Bank of Commerce worth $310,972,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Operose Advisors LLC bought a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at $26,000. Bridgewater Associates LP increased its holdings in shares of Canadian Imperial Bank of Commerce by 100.8% during the fourth quarter. Bridgewater Associates LP now owns 19,644 shares of the bank's stock worth $1,242,000 after buying an additional 9,860 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce by 36.2% in the 4th quarter. Guggenheim Capital LLC now owns 5,614 shares of the bank's stock worth $355,000 after acquiring an additional 1,491 shares in the last quarter. XTX Topco Ltd bought a new stake in Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $442,000. Finally, Mariner LLC raised its position in Canadian Imperial Bank of Commerce by 3.8% in the 4th quarter. Mariner LLC now owns 34,588 shares of the bank's stock valued at $2,187,000 after purchasing an additional 1,272 shares during the last quarter. 49.88% of the stock is owned by institutional investors.
Canadian Imperial Bank of Commerce Trading Up 1.9 %
Shares of CM stock traded up $1.14 on Tuesday, reaching $59.58. The company had a trading volume of 209,000 shares, compared to its average volume of 1,120,385. The company has a 50-day moving average of $58.08 and a 200-day moving average of $61.55. Canadian Imperial Bank of Commerce has a 12 month low of $46.50 and a 12 month high of $67.45. The stock has a market cap of $56.01 billion, a PE ratio of 11.14, a PEG ratio of 1.62 and a beta of 0.98. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14.
Canadian Imperial Bank of Commerce Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be issued a $0.6723 dividend. This represents a $2.69 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 48.03%.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on CM. StockNews.com lowered shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research report on Tuesday. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research note on Monday. Finally, Royal Bank of Canada raised 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 research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $92.00.
Read Our Latest Report on CM
About Canadian Imperial Bank of Commerce
(
Free Report)
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.
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