UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 2.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,179,347 shares of the bank's stock after acquiring an additional 32,036 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.13% of Canadian Imperial Bank of Commerce worth $74,570,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in CM. Toronto Dominion Bank boosted its holdings in Canadian Imperial Bank of Commerce by 1.1% during the 4th quarter. Toronto Dominion Bank now owns 22,138,015 shares of the bank's stock valued at $1,398,619,000 after acquiring an additional 234,088 shares during the period. Quantinno Capital Management LP grew its stake in Canadian Imperial Bank of Commerce by 5.7% during the 4th quarter. Quantinno Capital Management LP now owns 38,357 shares of the bank's stock worth $2,425,000 after purchasing an additional 2,065 shares in the last quarter. Nuveen Asset Management LLC raised its position in Canadian Imperial Bank of Commerce by 0.3% in the 4th quarter. Nuveen Asset Management LLC now owns 1,085,906 shares of the bank's stock valued at $68,656,000 after purchasing an additional 2,802 shares in the last quarter. OMERS ADMINISTRATION Corp grew its holdings in Canadian Imperial Bank of Commerce by 59.2% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 1,199,914 shares of the bank's stock worth $75,864,000 after acquiring an additional 446,314 shares in the last quarter. Finally, Focus Partners Wealth lifted its position in shares of Canadian Imperial Bank of Commerce by 18.5% during the 4th quarter. Focus Partners Wealth now owns 7,401 shares of the bank's stock worth $468,000 after purchasing an additional 1,155 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Performance

CM stock traded down $0.03 during trading on Thursday, hitting $67.88. The company had a trading volume of 1,345,300 shares, compared to its average volume of 1,139,426. The firm has a 50-day moving average price of $61.17 and a 200-day moving average price of $61.95. 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 firm has a market cap of $63.81 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 1.62 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 1-year low of $46.99 and a 1-year high of $69.80.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, March 28th were issued a $0.6723 dividend. This represents a $2.69 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date was Friday, March 28th. Canadian Imperial Bank of Commerce's payout ratio is currently 48.03%.

Wall Street Analyst Weigh In

CM has been the topic of several research analyst reports. Jefferies Financial Group lowered Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Scotiabank initiated coverage on Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They issued a "sector outperform" rating for the company. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of "Moderate Buy" and a consensus target price 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.