Intech Investment Management LLC Has $10.61 Million Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Intech Investment Management LLC grew its holdings in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 13.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 167,849 shares of the bank's stock after purchasing an additional 19,260 shares during the period. Intech Investment Management LLC's holdings in Canadian Imperial Bank of Commerce were worth $10,612,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CM. Public Sector Pension Investment Board grew its stake in shares of Canadian Imperial Bank of Commerce by 32.0% in the third quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank's stock valued at $228,043,000 after buying an additional 900,575 shares in the last quarter. FMR LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 3.3% in the third quarter. FMR LLC now owns 2,106,913 shares of the bank's stock valued at $129,239,000 after buying an additional 67,480 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Canadian Imperial Bank of Commerce by 6.1% in the third quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank's stock valued at $359,320,000 after buying an additional 334,545 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Canadian Imperial Bank of Commerce in the third quarter valued at $10,045,000. Finally, Rhumbline Advisers boosted its position in Canadian Imperial Bank of Commerce by 12.6% during the fourth quarter. Rhumbline Advisers now owns 3,622 shares of the bank's stock worth $229,000 after purchasing an additional 404 shares during the period. 49.88% of the stock is currently owned by institutional investors and hedge funds.

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Canadian Imperial Bank of Commerce Stock Performance

Shares of CM traded up $0.13 during midday trading on Friday, reaching $56.77. 1,050,811 shares of the stock were exchanged, compared to its average volume of 1,078,785. Canadian Imperial Bank of Commerce has a twelve month low of $46.50 and a twelve month high of $67.45. 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 company has a market cap of $53.36 billion, a P/E ratio of 10.61, a PEG ratio of 1.62 and a beta of 1.07. The stock's 50 day simple moving average is $60.51 and its 200 day simple moving average is $62.10.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.6723 per share. This represents a $2.69 annualized dividend and a yield of 4.74%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce's payout ratio is 48.03%.

Analysts Set New Price Targets

CM has been the subject of a number of research analyst 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 shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and lifted their price objective for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Canadian Imperial Bank of Commerce presently has an average rating of "Moderate Buy" and a consensus target price of $92.00.

Canadian Imperial Bank of Commerce Company 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.