Capital International Sarl Takes $7.49 Million Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Capital International Sarl bought a new stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 118,528 shares of the bank's stock, valued at approximately $7,494,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CM. Crews Bank & Trust acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at approximately $25,000. Operose Advisors LLC purchased a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth $26,000. SBI Securities Co. Ltd. acquired a new stake in Canadian Imperial Bank of Commerce in the fourth quarter valued at $30,000. Sandy Spring Bank purchased a new position in Canadian Imperial Bank of Commerce during the 4th quarter valued at about $32,000. Finally, IFP Advisors Inc raised its position in shares of Canadian Imperial Bank of Commerce by 318.1% during the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank's stock worth $34,000 after purchasing an additional 404 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CM has been the topic of a number of analyst reports. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research note on Monday. Finally, StockNews.com lowered Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of "Hold" and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Stock Performance

CM stock traded up $0.09 during midday trading on Thursday, reaching $60.28. The company had a trading volume of 203,546 shares, compared to its average volume of 1,151,414. Canadian Imperial Bank of Commerce has a fifty-two week low of $46.50 and a fifty-two week high of $67.45. The firm has a market capitalization of $56.67 billion, a PE ratio of 11.27, a P/E/G ratio of 1.62 and a beta of 0.98. 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 stock has a 50 day moving average price of $58.00 and a 200 day moving average price of $61.53.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be given a dividend of $0.6723 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.69 annualized dividend and a dividend yield of 4.46%. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 48.03%.

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.