Guardian Partners Inc. Invests $21.34 Million in Canadian Imperial Bank of Commerce (NYSE:CM)

Guardian Partners Inc. purchased a new stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 337,987 shares of the bank's stock, valued at approximately $21,341,000. Canadian Imperial Bank of Commerce comprises approximately 2.2% of Guardian Partners Inc.'s holdings, making the stock its 10th largest position.

Other institutional investors have also added to or reduced their stakes in the company. Crews Bank & Trust purchased a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at $25,000. SBI Securities Co. Ltd. bought a new position in Canadian Imperial Bank of Commerce during the fourth quarter valued at $30,000. Sandy Spring Bank purchased a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at $32,000. IFP Advisors Inc lifted its holdings 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 acquiring an additional 404 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter worth about $44,000. Hedge funds and other institutional investors own 49.88% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CM shares. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research note on Friday, February 14th. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $92.00.

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Canadian Imperial Bank of Commerce Trading Down 1.3 %

Shares of Canadian Imperial Bank of Commerce stock traded down $0.76 on Thursday, hitting $57.33. 1,367,135 shares of the company traded hands, compared to its average volume of 1,081,505. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The company has a market cap of $53.89 billion, a PE ratio of 10.71, a PEG ratio of 1.62 and a beta of 1.07. The stock's 50 day moving average price is $60.15 and its 200-day moving average price is $62.07. Canadian Imperial Bank of Commerce has a 52 week low of $46.50 and a 52 week high of $67.45.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be issued a $0.6723 dividend. This represents a $2.69 annualized dividend and a dividend yield of 4.69%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio is 48.03%.

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.