Natixis Has $446,000 Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Natixis lifted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 1,950.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,054 shares of the bank's stock after purchasing an additional 6,710 shares during the period. Natixis' holdings in Canadian Imperial Bank of Commerce were worth $446,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CM. State Street Corp acquired a new position in Canadian Imperial Bank of Commerce in the 3rd quarter valued at about $227,000. Franklin Resources Inc. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 4.4% during the third quarter. Franklin Resources Inc. now owns 880,838 shares of the bank's stock worth $54,606,000 after acquiring an additional 37,419 shares during the period. JPMorgan Chase & Co. grew its position in shares of Canadian Imperial Bank of Commerce by 6.1% in the third quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank's stock valued at $359,320,000 after purchasing an additional 334,545 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Canadian Imperial Bank of Commerce by 1,069.4% during the fourth quarter. Versant Capital Management Inc now owns 725 shares of the bank's stock worth $46,000 after purchasing an additional 663 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted 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 last quarter. Institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE CM traded up $0.45 during mid-day trading on Wednesday, reaching $62.96. The company had a trading volume of 842,909 shares, compared to its average volume of 1,137,192. The firm has a market cap of $59.19 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 1.62 and a beta of 0.98. The business's 50-day simple moving average is $58.00 and its 200 day simple moving average is $61.58. Canadian Imperial Bank of Commerce has a one year low of $46.50 and a one year high of $67.45. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, March 28th were issued a $0.6723 dividend. This represents a $2.69 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend was Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 48.03%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com lowered shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research report on Wednesday. Finally, Jefferies Financial Group downgraded shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus 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.