Charles Schwab Investment Management Inc. Grows Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Charles Schwab Investment Management Inc. lifted its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,526,773 shares of the bank's stock after acquiring an additional 7,794 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.27% of Canadian Imperial Bank of Commerce worth $159,759,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Crews Bank & Trust bought a new position in Canadian Imperial Bank of Commerce in the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at about $30,000. IFP Advisors Inc lifted its stake in shares of Canadian Imperial Bank of Commerce by 318.1% in 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 period. BNP Paribas Financial Markets purchased a new position in shares of Canadian Imperial Bank of Commerce in the third quarter worth approximately $44,000. Finally, Versant Capital Management Inc increased its holdings in Canadian Imperial Bank of Commerce by 1,069.4% during the fourth quarter. Versant Capital Management Inc now owns 725 shares of the bank's stock valued at $46,000 after buying an additional 663 shares during the last quarter. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

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Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM traded down $0.30 during trading on Tuesday, hitting $55.33. 1,253,235 shares of the company's stock were exchanged, compared to its average volume of 988,305. Canadian Imperial Bank of Commerce has a 52-week low of $46.50 and a 52-week 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 company has a market cap of $52.14 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 1.62 and a beta of 1.07. The business's 50-day simple moving average is $61.69 and its 200 day simple moving average is $62.18.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently declared 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 annualized dividend and a yield of 4.86%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce's payout ratio is currently 48.03%.

Wall Street Analysts Forecast Growth

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

Canadian Imperial Bank of Commerce 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.