Aviso Financial Inc. boosted its position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 1,098.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 639,512 shares of the bank's stock after buying an additional 586,160 shares during the quarter. Canadian Imperial Bank of Commerce makes up approximately 2.0% of Aviso Financial Inc.'s portfolio, making the stock its 18th biggest position. Aviso Financial Inc. owned about 0.07% of Canadian Imperial Bank of Commerce worth $40,444,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Assetmark Inc. grew its stake in shares of Canadian Imperial Bank of Commerce by 18.8% during the third quarter. Assetmark Inc. now owns 29,181 shares of the bank's stock valued at $1,790,000 after buying an additional 4,610 shares during the last quarter. Entropy Technologies LP bought a new position in Canadian Imperial Bank of Commerce during the 3rd quarter worth approximately $1,122,000. Plato Investment Management Ltd purchased a new position in Canadian Imperial Bank of Commerce in the 3rd quarter worth approximately $3,248,000. CIBC Asset Management Inc lifted its position in Canadian Imperial Bank of Commerce by 3.4% in the third quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank's stock valued at $696,659,000 after purchasing an additional 375,837 shares during the last quarter. Finally, Natixis Advisors LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 8.9% during the third quarter. Natixis Advisors LLC now owns 46,892 shares of the bank's stock valued at $2,876,000 after purchasing an additional 3,836 shares during the period. 49.88% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on CM shares. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Friday, February 14th. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and upped their price objective for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th. One 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. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $92.00.
View Our Latest Stock Analysis on Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce Stock Down 0.7 %
Canadian Imperial Bank of Commerce stock traded down $0.42 during mid-day trading on Tuesday, hitting $56.76. The company had a trading volume of 669,396 shares, compared to its average volume of 1,094,546. The stock's 50 day moving average price is $60.99 and its two-hundred day moving average price is $62.20. 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 $53.36 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07. Canadian Imperial Bank of Commerce has a 12 month low of $46.50 and a 12 month high of $67.45.
Canadian Imperial Bank of Commerce Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be paid a $0.6723 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.69 annualized dividend and a dividend yield of 4.74%. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 48.03%.
Canadian Imperial Bank of Commerce Company Profile
(
Free Report)
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.
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