OMERS ADMINISTRATION Corp Raises Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

OMERS ADMINISTRATION Corp increased its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 59.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,199,914 shares of the bank's stock after acquiring an additional 446,314 shares during the quarter. OMERS ADMINISTRATION Corp owned about 0.13% of Canadian Imperial Bank of Commerce worth $75,864,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Crews Bank & Trust purchased a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth about $25,000. Operose Advisors LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $26,000. SBI Securities Co. Ltd. bought a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at approximately $30,000. Sandy Spring Bank purchased a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at $32,000. Finally, IFP Advisors Inc increased its position in Canadian Imperial Bank of Commerce by 318.1% in the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank's stock worth $34,000 after purchasing an additional 404 shares during the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on CM. Jefferies Financial Group lowered shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. Scotiabank assumed coverage on shares of Canadian Imperial Bank of Commerce in a report on Thursday. They set a "sector outperform" rating on the stock. Finally, StockNews.com raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $92.00.

Canadian Imperial Bank of Commerce Trading Up 0.8%

NYSE:CM traded up $0.50 during midday trading on Friday, hitting $66.27. The stock had a trading volume of 2,099,875 shares, compared to its average volume of 1,134,893. The stock has a 50-day moving average of $59.17 and a 200 day moving average of $61.71. The company has a market capitalization of $62.30 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.62 and a beta of 1.06. Canadian Imperial Bank of Commerce has a one year low of $46.99 and a one year high of $67.45. 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 company also recently declared a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, March 28th were paid a dividend of $0.6723 per share. The ex-dividend date was Friday, March 28th. This represents a $2.69 annualized dividend and a dividend yield of 4.06%. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 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.