Barclays PLC Raises Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Barclays PLC lifted its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 106.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,885 shares of the bank's stock after purchasing an additional 25,712 shares during the quarter. Barclays PLC's holdings in Canadian Imperial Bank of Commerce were worth $3,154,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CM. Crews Bank & Trust acquired a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth about $30,000. Sandy Spring Bank bought a new position in Canadian Imperial Bank of Commerce in the 4th quarter valued at about $32,000. IFP Advisors Inc boosted its stake in Canadian Imperial Bank of Commerce by 318.1% during the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank's stock valued at $34,000 after purchasing an additional 404 shares during the last quarter. Finally, Lee Danner & Bass Inc. bought a new stake in Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $44,000. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Performance

CM traded up $0.03 during trading on Monday, hitting $63.75. 57,941 shares of the company traded hands, compared to its average volume of 1,129,247. Canadian Imperial Bank of Commerce has a one year low of $46.99 and a one year high of $67.45. The stock's fifty day moving average is $58.11 and its 200 day moving average is $61.60. 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 cap of $59.93 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 1.62 and a beta of 1.06.

Canadian Imperial Bank of Commerce Cuts Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Jefferies Financial Group lowered Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Monday, April 21st. StockNews.com lowered shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research note on Wednesday, April 30th. Finally, Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and boosted their price target for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. One 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. According to 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.