TD Waterhouse Canada Inc. Increases Position in Canadian Imperial Bank of Commerce (NYSE:CM)

TD Waterhouse Canada Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 1.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,930,287 shares of the bank's stock after purchasing an additional 28,108 shares during the quarter. Canadian Imperial Bank of Commerce makes up about 1.5% of TD Waterhouse Canada Inc.'s investment portfolio, making the stock its 16th biggest holding. TD Waterhouse Canada Inc. owned 0.31% of Canadian Imperial Bank of Commerce worth $184,663,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CM. PDS Planning Inc lifted its holdings in shares of Canadian Imperial Bank of Commerce by 3.8% in the 4th quarter. PDS Planning Inc now owns 5,167 shares of the bank's stock worth $327,000 after purchasing an additional 189 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Canadian Imperial Bank of Commerce by 4.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank's stock worth $255,000 after purchasing an additional 194 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its stake in shares of Canadian Imperial Bank of Commerce by 0.7% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 33,094 shares of the bank's stock worth $2,092,000 after acquiring an additional 222 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Canadian Imperial Bank of Commerce by 27.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,161 shares of the bank's stock valued at $73,000 after buying an additional 250 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Canadian Imperial Bank of Commerce by 5.7% during the 4th quarter. Fifth Third Bancorp now owns 4,971 shares of the bank's stock valued at $314,000 after purchasing an additional 270 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. 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 downgraded shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. Finally, Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of "Hold" and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Stock Up 1.2 %

Shares of CM traded up $0.75 during mid-day trading on Friday, hitting $61.12. 756,591 shares of the company traded hands, compared to its average volume of 1,138,360. Canadian Imperial Bank of Commerce has a 1-year low of $46.50 and a 1-year high of $67.45. The business has a 50 day moving average of $57.94 and a 200 day moving average of $61.54. 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 company has a market capitalization of $57.46 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be given a dividend of $0.6723 per share. This represents a $2.69 annualized dividend and a yield of 4.40%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 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.