Cidel Asset Management Inc. Buys 36,732 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Cidel Asset Management Inc. raised its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 8.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 448,789 shares of the bank's stock after acquiring an additional 36,732 shares during the quarter. Canadian Imperial Bank of Commerce makes up 1.9% of Cidel Asset Management Inc.'s portfolio, making the stock its 15th biggest position. Cidel Asset Management Inc.'s holdings in Canadian Imperial Bank of Commerce were worth $28,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the stock. Measured Wealth Private Client Group LLC lifted its position in Canadian Imperial Bank of Commerce by 9.8% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 11,336 shares of the bank's stock valued at $717,000 after purchasing an additional 1,015 shares during the last quarter. Choreo LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 16.6% in the 4th quarter. Choreo LLC now owns 4,775 shares of the bank's stock worth $302,000 after purchasing an additional 679 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth approximately $265,000. Five Oceans Advisors increased its position in shares of Canadian Imperial Bank of Commerce by 8.2% in the fourth quarter. Five Oceans Advisors now owns 4,560 shares of the bank's stock worth $288,000 after acquiring an additional 344 shares in the last quarter. Finally, Mediolanum International Funds Ltd purchased a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth approximately $2,935,000. 49.88% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on CM. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Canadian Imperial Bank of Commerce has an average rating of "Moderate Buy" and an average target price of $92.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of NYSE:CM traded up $0.26 during trading on Wednesday, reaching $61.72. The stock had a trading volume of 734,065 shares, compared to its average volume of 1,076,531. Canadian Imperial Bank of Commerce has a 52 week low of $43.86 and a 52 week high of $67.45. The firm has a market capitalization of $58.16 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 1.64 and a beta of 1.05. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a fifty day simple moving average of $63.62 and a two-hundred day simple moving average of $61.01.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 27th were given a dividend of $0.6912 per share. The ex-dividend date was Friday, December 27th. This represents a $2.76 dividend on an annualized basis and a yield of 4.48%. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.65. Canadian Imperial Bank of Commerce's payout ratio is 51.21%.

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.