Guardian Capital LP Buys 15,061 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Guardian Capital LP grew its stake 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 filing with the Securities and Exchange Commission. The institutional investor owned 1,179,929 shares of the bank's stock after buying an additional 15,061 shares during the quarter. Canadian Imperial Bank of Commerce comprises 2.8% of Guardian Capital LP's holdings, making the stock its 10th biggest position. Guardian Capital LP owned about 0.13% of Canadian Imperial Bank of Commerce worth $74,601,000 as of its most recent filing with the Securities and Exchange Commission.

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

Canadian Imperial Bank of Commerce Trading Up 0.4 %

Canadian Imperial Bank of Commerce stock traded up $0.27 during mid-day trading on Monday, hitting $63.99. 206,271 shares of the company's stock were exchanged, compared to its average volume of 1,129,987. Canadian Imperial Bank of Commerce has a fifty-two week low of $46.99 and a fifty-two week high of $67.45. 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 firm has a market capitalization of $60.16 billion, a P/E ratio of 11.96, a PEG ratio of 1.62 and a beta of 1.06. The company's 50 day simple moving average is $58.11 and its 200-day simple moving average is $61.60.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Stockholders 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 annualized dividend and a dividend yield of 4.20%. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 48.03%.

Analyst Upgrades and Downgrades

CM has been the subject of a number of recent analyst reports. StockNews.com cut Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. Jefferies Financial Group downgraded 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 shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and upped their target price for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $92.00.

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.