Natixis Buys 6,710 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Natixis raised its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 1,950.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,054 shares of the bank's stock after purchasing an additional 6,710 shares during the period. Natixis' holdings in Canadian Imperial Bank of Commerce were worth $446,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Crews Bank & Trust bought a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $25,000. Operose Advisors LLC acquired a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at $26,000. SBI Securities Co. Ltd. bought a new stake in shares of Canadian Imperial Bank of Commerce in the 4th 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 position in shares of Canadian Imperial Bank of Commerce by 318.1% during the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank's stock valued at $34,000 after purchasing an additional 404 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on CM shares. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. Jefferies Financial Group downgraded Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Monday, April 21st. Finally, StockNews.com downgraded shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $92.00.

Canadian Imperial Bank of Commerce Stock Up 1.3 %

NYSE CM traded up $0.82 on Monday, reaching $61.91. The stock had a trading volume of 792,148 shares, compared to its average volume of 1,138,152. 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 1 year low of $46.50 and a 1 year high of $67.45. The business has a 50 day moving average price of $57.94 and a 200 day moving average price of $61.56. The company has a market capitalization of $58.20 billion, a price-to-earnings ratio of 11.57, a P/E/G ratio of 1.62 and a beta of 0.98.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be paid a $0.6723 dividend. This represents a $2.69 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is presently 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.