Two Sigma Securities LLC Takes Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Two Sigma Securities LLC purchased a new position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,194 shares of the bank's stock, valued at approximately $328,000.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $570,477,000. Capital International Investors acquired a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at $424,386,000. FIL Ltd lifted its holdings in shares of Canadian Imperial Bank of Commerce by 53.6% in the fourth quarter. FIL Ltd now owns 12,387,607 shares of the bank's stock valued at $783,613,000 after purchasing an additional 4,321,451 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Canadian Imperial Bank of Commerce by 37.3% in the fourth quarter. JPMorgan Chase & Co. now owns 8,043,106 shares of the bank's stock worth $508,566,000 after buying an additional 2,185,262 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 31.3% during the fourth quarter. Geode Capital Management LLC now owns 5,573,202 shares of the bank's stock valued at $357,480,000 after buying an additional 1,327,967 shares in the last quarter. Institutional investors own 49.88% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CM shares. Jefferies Financial Group downgraded shares of 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 upgraded Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. Finally, StockNews.com cut Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $92.00.

Canadian Imperial Bank of Commerce Stock Up 1.0 %

Shares of CM traded up $0.63 during mid-day trading on Friday, hitting $63.70. 510,259 shares of the company's stock were exchanged, compared to its average volume of 1,133,510. 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 twelve month low of $46.99 and a twelve month high of $67.45. The firm has a fifty day moving average of $58.11 and a two-hundred day moving average of $61.61. The stock has a market cap of $59.89 billion, a price-to-earnings ratio of 11.91, a P/E/G ratio of 1.62 and a beta of 0.98.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, March 28th were issued a dividend of $0.6723 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.69 annualized dividend and a yield of 4.22%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is currently 48.03%.

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.