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

Deutsche Bank AG increased its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,491,933 shares of the bank's stock after purchasing 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 quarter.

Other hedge funds also recently 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 worth about $25,000. Operose Advisors LLC purchased a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth about $26,000. SBI Securities Co. Ltd. purchased a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth about $30,000. Sandy Spring Bank purchased a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth about $32,000. Finally, IFP Advisors Inc grew its position in Canadian Imperial Bank of Commerce by 318.1% during the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank's stock worth $34,000 after buying an additional 404 shares in the last quarter. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Price Performance

CM stock traded up $0.17 during mid-day trading on Monday, hitting $63.65. 599,119 shares of the stock were exchanged, compared to its average volume of 1,126,998. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The business has a fifty day moving average price of $58.63 and a 200 day moving average price of $61.65. Canadian Imperial Bank of Commerce has a 12 month low of $46.99 and a 12 month high of $67.45. The stock has a market capitalization of $59.84 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 1.62 and a beta of 1.06.

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 paid a dividend of $0.6723 per share. This represents a $2.69 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend was Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is currently 48.03%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. StockNews.com lowered Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average 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.