Plato Investment Management Ltd Has $3.73 Million Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Plato Investment Management Ltd raised its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 10.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,712 shares of the bank's stock after purchasing an additional 5,769 shares during the period. Plato Investment Management Ltd's holdings in Canadian Imperial Bank of Commerce were worth $3,726,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Crews Bank & Trust acquired a new position in Canadian Imperial Bank of Commerce in the fourth quarter worth approximately $25,000. SBI Securities Co. Ltd. bought a new stake in Canadian Imperial Bank of Commerce in the fourth quarter worth approximately $30,000. IFP Advisors Inc increased its stake 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 worth $34,000 after purchasing an additional 404 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter valued at $44,000. Finally, Versant Capital Management Inc raised its holdings in shares of Canadian Imperial Bank of Commerce by 1,069.4% during the 4th quarter. Versant Capital Management Inc now owns 725 shares of the bank's stock valued at $46,000 after purchasing an additional 663 shares in the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CM has been the subject of a number of recent research reports. 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 Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and increased their price objective for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, Canadian Imperial Bank of Commerce has an average rating of "Hold" and a consensus target price of $92.00.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock traded up $0.45 on Wednesday, reaching $57.85. 77,591 shares of the stock were exchanged, compared to its average volume of 1,135,787. 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 twelve month low of $46.50 and a twelve month high of $67.45. The firm has a fifty day moving average price of $62.25 and a two-hundred day moving average price of $62.08. The stock has a market cap of $54.51 billion, a PE ratio of 10.88, a PEG ratio of 1.62 and a beta of 1.05.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.65%. Canadian Imperial Bank of Commerce's payout ratio is presently 47.67%.

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.