Northern Trust Corp Has $39.64 Million Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Northern Trust Corp grew its position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 38.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 626,852 shares of the bank's stock after purchasing an additional 175,669 shares during the period. Northern Trust Corp owned approximately 0.07% of Canadian Imperial Bank of Commerce worth $39,636,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. The Manufacturers Life Insurance Company raised its position in Canadian Imperial Bank of Commerce by 26.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 4,031,116 shares of the bank's stock valued at $255,338,000 after purchasing an additional 844,010 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $28,017,000. Two Sigma Securities LLC bought a new position in Canadian Imperial Bank of Commerce during the fourth quarter valued at $328,000. Voya Investment Management LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 23.7% in the fourth quarter. Voya Investment Management LLC now owns 70,806 shares of the bank's stock worth $4,477,000 after buying an additional 13,575 shares during the period. Finally, Integrated Wealth Concepts LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 2.8% during the fourth quarter. Integrated Wealth Concepts LLC now owns 15,106 shares of the bank's stock valued at $955,000 after purchasing an additional 415 shares during the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research note on Tuesday. Scotiabank began coverage on shares of Canadian Imperial Bank of Commerce in a research note on Thursday. They set a "sector outperform" rating on the stock. Finally, Jefferies Financial Group downgraded shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Monday, April 21st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of NYSE:CM traded down $0.09 during trading on Thursday, hitting $65.40. The stock had a trading volume of 260,209 shares, compared to its average volume of 1,125,999. 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 has a 12-month low of $46.99 and a 12-month high of $67.45. The stock has a 50-day simple moving average of $58.97 and a two-hundred day simple moving average of $61.70. The stock has a market capitalization of $61.49 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 1.62 and a beta of 1.06.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, March 28th were issued a dividend of $0.6723 per share. This represents a $2.69 annualized dividend and a dividend yield of 4.11%. The ex-dividend date was Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 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.