Two Sigma Securities LLC Makes New Investment in Canadian Imperial Bank of Commerce (NYSE:CM)

Two Sigma Securities LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,194 shares of the bank's stock, valued at approximately $328,000.

Several other hedge funds also recently added to or reduced their stakes in CM. State Street Corp bought a new stake in Canadian Imperial Bank of Commerce during the 3rd quarter valued at $227,000. Franklin Resources Inc. increased its stake in Canadian Imperial Bank of Commerce by 4.4% in the 3rd quarter. Franklin Resources Inc. now owns 880,838 shares of the bank's stock worth $54,606,000 after purchasing an additional 37,419 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Canadian Imperial Bank of Commerce by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank's stock valued at $359,320,000 after acquiring an additional 334,545 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Canadian Imperial Bank of Commerce by 1,069.4% in the fourth quarter. Versant Capital Management Inc now owns 725 shares of the bank's stock valued at $46,000 after purchasing an additional 663 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Canadian Imperial Bank of Commerce by 4.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank's stock worth $255,000 after acquiring an additional 194 shares in the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Performance

CM stock traded up $0.63 during trading on Friday, reaching $63.70. 510,259 shares of the stock were exchanged, compared to its average volume of 1,130,805. The stock has a 50 day simple moving average of $58.04 and a 200-day simple moving average of $61.60. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $59.89 billion, a P/E ratio of 11.91, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. Canadian Imperial Bank of Commerce has a twelve month low of $46.83 and a twelve month high of $67.45.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, March 28th were given a dividend of $0.6723 per share. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.22%. The ex-dividend date was Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 48.03%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CM. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. Finally, StockNews.com lowered Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" 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.