Canadian Imperial Bank of Commerce (NYSE:CM) is Guardian Capital LP's 10th Largest Position

Guardian Capital LP grew its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,179,929 shares of the bank's stock after purchasing an additional 15,061 shares during the period. Canadian Imperial Bank of Commerce makes up about 2.8% of Guardian Capital LP's holdings, making the stock its 10th largest holding. Guardian Capital LP owned about 0.13% of Canadian Imperial Bank of Commerce worth $74,601,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. PDS Planning Inc increased its position in shares of Canadian Imperial Bank of Commerce by 3.8% during the fourth quarter. PDS Planning Inc now owns 5,167 shares of the bank's stock worth $327,000 after acquiring an additional 189 shares during the period. 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 during the period. Mesirow Financial Investment Management Inc. raised its position in 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 valued at $2,092,000 after purchasing an additional 222 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of 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 period. Finally, Fifth Third Bancorp grew its position in shares of Canadian Imperial Bank of Commerce by 5.7% during the fourth quarter. Fifth Third Bancorp now owns 4,971 shares of the bank's stock worth $314,000 after buying an additional 270 shares in the last quarter. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CM has been the subject of a number of recent research reports. StockNews.com downgraded shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research note on Wednesday. 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 upgraded Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and raised their price target for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th. One equities 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. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $92.00.

Canadian Imperial Bank of Commerce Stock Performance

CM traded up $0.63 on Friday, reaching $63.70. The company had a trading volume of 510,259 shares, compared to its average volume of 1,132,315. 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. The stock has a market capitalization of $59.89 billion, a PE ratio of 11.91, a P/E/G ratio of 1.62 and a beta of 0.98. The stock has a 50-day moving average price of $58.11 and a 200-day moving average price of $61.62.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, March 28th were issued a $0.6723 dividend. This represents a $2.69 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend was Friday, March 28th. Canadian Imperial Bank of Commerce's payout ratio is currently 48.03%.

About Canadian Imperial Bank of Commerce

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.