NewSquare Capital LLC Acquires Shares of 92,521 Canadian Imperial Bank of Commerce (NYSE:CM)

NewSquare Capital LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 92,521 shares of the bank's stock, valued at approximately $5,850,000.

Several other hedge funds have also recently made changes to their positions in the company. Crews Bank & Trust purchased a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at $25,000. SBI Securities Co. Ltd. acquired a new position in Canadian Imperial Bank of Commerce during the fourth quarter valued at $30,000. IFP Advisors Inc lifted its position in Canadian Imperial Bank of Commerce by 318.1% during the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank's stock valued at $34,000 after purchasing an additional 404 shares during the period. BNP Paribas Financial Markets purchased a new stake in Canadian Imperial Bank of Commerce in the third quarter valued at $44,000. Finally, Versant Capital Management Inc grew its position in Canadian Imperial Bank of Commerce by 1,069.4% during the 4th quarter. Versant Capital Management Inc now owns 725 shares of the bank's stock worth $46,000 after purchasing an additional 663 shares during the period. 49.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. StockNews.com raised Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a 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 boosted their price target for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock traded down $1.37 on Thursday, hitting $56.80. The company's stock had a trading volume of 752,268 shares, compared to its average volume of 1,128,691. The company has a market capitalization of $53.53 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07. Canadian Imperial Bank of Commerce has a 1 year low of $46.50 and a 1 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 firm has a fifty day moving average price of $62.13 and a 200-day moving average price of $62.06.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be given a $0.6723 dividend. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is presently 48.03%.

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.