TD Waterhouse Canada Inc. Grows Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

TD Waterhouse Canada Inc. raised its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,930,287 shares of the bank's stock after buying an additional 28,108 shares during the quarter. Canadian Imperial Bank of Commerce makes up approximately 1.5% of TD Waterhouse Canada Inc.'s investment portfolio, making the stock its 16th largest position. TD Waterhouse Canada Inc. owned about 0.31% of Canadian Imperial Bank of Commerce worth $184,663,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Crews Bank & Trust purchased a new position in Canadian Imperial Bank of Commerce during the 4th quarter valued at about $25,000. Operose Advisors LLC acquired a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth $26,000. SBI Securities Co. Ltd. purchased a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth $30,000. Sandy Spring Bank acquired a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at $32,000. Finally, IFP Advisors Inc boosted its holdings 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 valued at $34,000 after purchasing an additional 404 shares during the period. Hedge funds and other institutional investors own 49.88% of the company's stock.

Analysts Set New Price Targets

CM has been the topic of a number of analyst reports. Jefferies Financial Group lowered Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $97.00 to $103.00 in a research note on Wednesday, January 8th. Finally, StockNews.com cut shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $92.00.

Canadian Imperial Bank of Commerce Stock Up 1.2 %

CM stock traded up $0.75 during trading on Friday, hitting $61.12. 756,591 shares of the company's stock were exchanged, compared to its average volume of 1,138,014. The stock has a market capitalization of $57.46 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 1.62 and a beta of 0.98. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a 52-week low of $46.50 and a 52-week high of $67.45. The business has a 50-day moving average price of $57.96 and a two-hundred day moving average price of $61.53.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.6723 per share. This represents a $2.69 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce's payout ratio is 48.03%.

About Canadian Imperial Bank of Commerce

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.