Capital International Inc. CA Purchases 67,571 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Capital International Inc. CA increased its position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 143.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 114,822 shares of the bank's stock after purchasing an additional 67,571 shares during the period. Capital International Inc. CA's holdings in Canadian Imperial Bank of Commerce were worth $7,261,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. PDS Planning Inc boosted its holdings in shares of Canadian Imperial Bank of Commerce by 3.8% during the fourth quarter. PDS Planning Inc now owns 5,167 shares of the bank's stock valued at $327,000 after acquiring an additional 189 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Canadian Imperial Bank of Commerce by 4.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank's stock worth $255,000 after buying an additional 194 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its stake in Canadian Imperial Bank of Commerce by 0.7% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 33,094 shares of the bank's stock worth $2,092,000 after purchasing an additional 222 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Canadian Imperial Bank of Commerce by 27.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,161 shares of the bank's stock worth $73,000 after purchasing an additional 250 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Canadian Imperial Bank of Commerce by 5.7% in the fourth quarter. Fifth Third Bancorp now owns 4,971 shares of the bank's stock worth $314,000 after purchasing an additional 270 shares in the last quarter. Institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Stock Performance

NYSE:CM traded up $0.38 during mid-day trading on Wednesday, reaching $60.18. 814,193 shares of the company's stock were exchanged, compared to its average volume of 1,141,133. Canadian Imperial Bank of Commerce has a one year low of $46.50 and a one year high of $67.45. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The business's fifty day simple moving average is $58.03 and its two-hundred day simple moving average is $61.54. The firm has a market capitalization of $56.58 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently declared 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 4.47%. Canadian Imperial Bank of Commerce's payout ratio is 48.03%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. StockNews.com lowered Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a report on Tuesday. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and increased their target price for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group lowered Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $92.00.

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.