Grantham Mayo Van Otterloo & Co. LLC lowered its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 74.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,062 shares of the bank's stock after selling 198,234 shares during the period. Grantham Mayo Van Otterloo & Co. LLC's holdings in Canadian Imperial Bank of Commerce were worth $4,304,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $570,477,000. JPMorgan Chase & Co. increased its position in shares of Canadian Imperial Bank of Commerce by 37.3% in the fourth quarter. JPMorgan Chase & Co. now owns 8,043,106 shares of the bank's stock worth $508,566,000 after acquiring an additional 2,185,262 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Canadian Imperial Bank of Commerce by 31.3% in the fourth quarter. Geode Capital Management LLC now owns 5,573,202 shares of the bank's stock worth $357,480,000 after acquiring an additional 1,327,967 shares in the last quarter. TD Asset Management Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 3.7% during the 4th quarter. TD Asset Management Inc. now owns 23,600,495 shares of the bank's stock valued at $1,492,138,000 after acquiring an additional 851,164 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Canadian Imperial Bank of Commerce by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 39,385,238 shares of the bank's stock worth $2,491,431,000 after purchasing an additional 749,843 shares during the period. Institutional investors and hedge funds own 49.88% of the company's stock.
Canadian Imperial Bank of Commerce Stock Up 1.3 %
NYSE:CM traded up $0.71 on Friday, reaching $57.12. The stock had a trading volume of 1,105,747 shares, compared to its average volume of 1,152,689. The company has a 50-day moving average of $58.45 and a 200 day moving average of $61.64. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a market cap of $53.69 billion, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. Canadian Imperial Bank of Commerce has a 12-month low of $46.50 and a 12-month high of $67.45.
Canadian Imperial Bank of Commerce Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be issued a $0.6723 dividend. This represents a $2.69 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 48.03%.
Analysts Set New Price Targets
CM has been the topic of several research reports. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com lowered Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research report on Friday, April 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of "Moderate Buy" and an average price target of $92.00.
Check Out Our Latest Report on Canadian Imperial Bank of Commerce
About Canadian Imperial Bank of Commerce
(
Free Report)
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.
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