Canadian Imperial Bank of Commerce (NYSE:CM) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 41.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,835,795 shares of the bank's stock after purchasing an additional 1,990,520 shares during the period. Mackenzie Financial Corp owned about 0.73% of Canadian Imperial Bank of Commerce worth $431,952,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Crews Bank & Trust purchased a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at about $25,000. Operose Advisors LLC bought a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth $26,000. SBI Securities Co. Ltd. bought a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth $30,000. Sandy Spring Bank bought a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at $32,000. Finally, IFP Advisors Inc increased its holdings in Canadian Imperial Bank of Commerce by 318.1% in the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank's stock valued at $34,000 after acquiring an additional 404 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Stock Up 0.3%

CM traded up $0.18 on Tuesday, hitting $68.34. The company had a trading volume of 1,046,922 shares, compared to its average volume of 1,136,570. The stock has a fifty day moving average price of $60.71 and a 200-day moving average price of $61.87. Canadian Imperial Bank of Commerce has a 12-month low of $46.99 and a 12-month high of $69.40. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $64.25 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 1.62 and a beta of 1.06.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, March 28th were given a dividend of $0.6723 per share. The ex-dividend date was Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a yield of 3.94%. Canadian Imperial Bank of Commerce's payout ratio is 48.03%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Scotiabank initiated coverage on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 15th. They issued a "sector outperform" rating on the stock. 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, April 21st. Finally, Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research note on Saturday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of "Moderate Buy" and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Company 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.