Dimensional Fund Advisors LP Raises Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Dimensional Fund Advisors LP increased its position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,944,113 shares of the bank's stock after buying an additional 31,521 shares during the quarter. Dimensional Fund Advisors LP owned 0.31% of Canadian Imperial Bank of Commerce worth $186,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crews Bank & Trust purchased a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at about $25,000. Operose Advisors LLC bought a new position in Canadian Imperial Bank of Commerce in the 4th quarter worth $26,000. SBI Securities Co. Ltd. purchased 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 stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at about $32,000. Finally, IFP Advisors Inc increased its position in shares of Canadian Imperial Bank of Commerce by 318.1% during the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank's stock valued at $34,000 after buying an additional 404 shares during the period. Institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Stock Up 0.5 %

CM traded up $0.32 during trading on Tuesday, hitting $62.23. 90,067 shares of the company's stock traded hands, compared to its average volume of 1,133,999. The stock has a market capitalization of $58.50 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 1.62 and a beta of 0.98. The company's 50 day simple moving average is $57.94 and its two-hundred day simple moving average is $61.57. Canadian Imperial Bank of Commerce has a 12-month low of $46.50 and a 12-month high of $67.45. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, March 28th were issued a $0.6723 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.69 annualized dividend and a yield of 4.32%. Canadian Imperial Bank of Commerce's payout ratio is 48.03%.

Analyst Ratings Changes

CM has been the topic of several research reports. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. StockNews.com cut Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research note on Tuesday, April 22nd. 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 target price for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of "Hold" and a consensus price target of $92.00.

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.