Capital International Inc. CA grew its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 143.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,822 shares of the bank's stock after acquiring an additional 67,571 shares during the period. Capital International Inc. CA's holdings in Canadian Imperial Bank of Commerce were worth $7,261,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the stock. PDS Planning Inc lifted its position in shares of Canadian Imperial Bank of Commerce by 3.8% in the fourth quarter. PDS Planning Inc now owns 5,167 shares of the bank's stock valued at $327,000 after buying an additional 189 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Canadian Imperial Bank of Commerce by 4.9% during the fourth 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. increased its holdings in shares of Canadian Imperial Bank of Commerce by 0.7% in the fourth 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 during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Canadian Imperial Bank of Commerce by 27.4% during the 4th 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 boosted its holdings in shares of Canadian Imperial Bank of Commerce by 5.7% during the 4th quarter. Fifth Third Bancorp now owns 4,971 shares of the bank's stock worth $314,000 after buying an additional 270 shares during the period. 49.88% of the stock is currently owned by institutional investors.
Canadian Imperial Bank of Commerce Price Performance
Shares of NYSE:CM traded up $0.56 during midday trading on Friday, hitting $60.93. The stock had a trading volume of 189,001 shares, compared to its average volume of 1,135,840. The company's 50-day moving average price is $57.96 and its 200-day moving average price is $61.53. Canadian Imperial Bank of Commerce has a fifty-two week low of $46.50 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 company has a market capitalization of $57.28 billion, a P/E ratio of 11.40, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98.
Canadian Imperial Bank of Commerce Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.6723 per share. This represents a $2.69 annualized dividend and a yield of 4.41%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce's payout ratio is presently 48.03%.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. StockNews.com downgraded shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research report on Tuesday. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group cut shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $92.00.
Check Out Our Latest Stock Analysis 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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