Canadian Imperial Bank of Commerce (NYSE:CM) Shares Acquired by Andra AP fonden

Andra AP fonden raised its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 73.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 182,700 shares of the bank's stock after buying an additional 77,400 shares during the quarter. Andra AP fonden's holdings in Canadian Imperial Bank of Commerce were worth $11,552,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CM. Wealth Enhancement Advisory Services LLC acquired a new position in Canadian Imperial Bank of Commerce during the third quarter worth $243,000. US Bancorp DE grew its holdings in shares of Canadian Imperial Bank of Commerce by 6.3% in the third quarter. US Bancorp DE now owns 15,280 shares of the bank's stock valued at $937,000 after purchasing an additional 906 shares in the last quarter. Gold Investment Management Ltd. lifted its holdings in Canadian Imperial Bank of Commerce by 0.7% during the 3rd quarter. Gold Investment Management Ltd. now owns 54,225 shares of the bank's stock worth $3,326,000 after buying an additional 387 shares in the last quarter. Fiera Capital Corp boosted its position in Canadian Imperial Bank of Commerce by 2.1% in the 3rd quarter. Fiera Capital Corp now owns 36,881 shares of the bank's stock valued at $2,265,000 after buying an additional 772 shares during the period. Finally, Verdence Capital Advisors LLC increased its holdings in Canadian Imperial Bank of Commerce by 4.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 17,435 shares of the bank's stock worth $1,069,000 after purchasing an additional 756 shares during the period. 49.88% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of equities analysts recently commented on the stock. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research note on Friday, February 14th. Royal Bank of Canada upgraded 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 given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of "Hold" and an average target price of $92.00.

Canadian Imperial Bank of Commerce Trading Up 1.1 %

NYSE:CM traded up $0.64 on Wednesday, reaching $55.97. The stock had a trading volume of 535,824 shares, compared to its average volume of 1,105,329. The company has a market cap of $52.74 billion, a price-to-earnings ratio of 10.46, a P/E/G 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. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The firm's fifty day moving average is $61.54 and its two-hundred day moving average is $62.18.

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 $0.6723 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a yield of 4.81%. Canadian Imperial Bank of Commerce's dividend payout ratio 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.