Deutsche Bank AG Buys 119,573 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Deutsche Bank AG lifted its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,491,933 shares of the bank's stock after buying an additional 119,573 shares during the quarter. Deutsche Bank AG owned about 0.37% of Canadian Imperial Bank of Commerce worth $220,795,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of CM. Vanguard Group Inc. increased its stake in Canadian Imperial Bank of Commerce by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 39,385,238 shares of the bank's stock worth $2,491,431,000 after acquiring an additional 749,843 shares during the last quarter. TD Asset Management Inc. raised its stake in Canadian Imperial Bank of Commerce by 3.7% during the 4th quarter. TD Asset Management Inc. now owns 23,600,495 shares of the bank's stock valued at $1,492,138,000 after acquiring an additional 851,164 shares in the last quarter. FIL Ltd raised its stake in shares of Canadian Imperial Bank of Commerce by 53.6% in the 4th quarter. FIL Ltd now owns 12,387,607 shares of the bank's stock worth $783,613,000 after buying an additional 4,321,451 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Canadian Imperial Bank of Commerce by 1.1% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,757,382 shares of the bank's stock worth $679,613,000 after purchasing an additional 115,884 shares during the period. Finally, Norges Bank acquired a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth $570,477,000. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Scotiabank began coverage on Canadian Imperial Bank of Commerce in a research note on Thursday. They set a "sector outperform" rating for the company. StockNews.com raised Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Tuesday. Finally, Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Monday, April 21st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM traded up $0.11 during trading on Thursday, hitting $65.60. 366,193 shares of the company were exchanged, compared to its average volume of 1,126,372. The business's 50 day moving average is $58.97 and its 200-day moving average is $61.70. The company has a market capitalization of $61.67 billion, a P/E ratio of 12.26, 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 company also recently declared a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, March 28th were given a dividend of $0.6723 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a yield of 4.10%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is currently 48.03%.

Canadian Imperial Bank of Commerce 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.