Ewing Morris & Co. Investment Partners Ltd. purchased a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,493 shares of the bank's stock, valued at approximately $284,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in Canadian Imperial Bank of Commerce during the fourth quarter valued at about $570,477,000. Capital International Investors bought a new stake in Canadian Imperial Bank of Commerce during the fourth quarter valued at about $424,386,000. FIL Ltd boosted its position in Canadian Imperial Bank of Commerce by 53.6% during the fourth quarter. FIL Ltd now owns 12,387,607 shares of the bank's stock valued at $783,613,000 after purchasing an additional 4,321,451 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Canadian Imperial Bank of Commerce by 37.3% during the fourth quarter. JPMorgan Chase & Co. now owns 8,043,106 shares of the bank's stock valued at $508,566,000 after purchasing an additional 2,185,262 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Canadian Imperial Bank of Commerce by 31.3% during the fourth quarter. Geode Capital Management LLC now owns 5,573,202 shares of the bank's stock valued at $357,480,000 after purchasing an additional 1,327,967 shares in the last quarter. Institutional investors own 49.88% of the company's stock.
Canadian Imperial Bank of Commerce Price Performance
Shares of Canadian Imperial Bank of Commerce stock traded up $0.62 on Wednesday, reaching $65.43. The company's stock had a trading volume of 529,490 shares, compared to its average volume of 1,074,375. The company has a market capitalization of $61.51 billion, a P/E ratio of 12.23, a PEG ratio of 1.62 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 52-week low of $46.99 and a 52-week high of $67.45. The stock has a 50-day moving average price of $58.80 and a 200-day moving average price of $61.67. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14.
Canadian Imperial Bank of Commerce Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, March 28th were paid a dividend of $0.6723 per share. This represents a $2.69 dividend on an annualized basis and a yield of 4.11%. The ex-dividend date was Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is currently 48.03%.
Analyst Upgrades and Downgrades
CM has been the subject of several recent analyst reports. StockNews.com raised Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Tuesday. Jefferies Financial Group downgraded Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Monday, April 21st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $92.00.
Read Our Latest Report on CM
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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