163,654 Shares in Canadian Imperial Bank of Commerce (NYSE:CM) Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 163,654 shares of the bank's stock, valued at approximately $10,045,000.

A number of other hedge funds also recently bought and sold shares of CM. Ridgewood Investments LLC purchased a new position in shares of Canadian Imperial Bank of Commerce during the second quarter valued at $29,000. BNP Paribas Financial Markets acquired a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at about $44,000. Blue Trust Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 571.6% in the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank's stock valued at $45,000 after purchasing an additional 623 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Canadian Imperial Bank of Commerce by 23.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank's stock worth $56,000 after purchasing an additional 171 shares during the period. Finally, City State Bank purchased a new position in Canadian Imperial Bank of Commerce during the third quarter valued at approximately $61,000. 49.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CM shares. BMO Capital Markets increased their target price on shares of Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an "outperform" rating in a research report on Friday, August 30th. StockNews.com upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Friday, December 6th. Royal Bank of Canada restated a "sector perform" rating and issued a $97.00 target price (up previously from $74.00) on shares of Canadian Imperial Bank of Commerce in a research note on Friday, December 6th. Bank of America raised Canadian Imperial Bank of Commerce from a "neutral" rating to a "buy" rating in a research note on Friday, August 30th. Finally, Cormark raised Canadian Imperial Bank of Commerce from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $89.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock traded down $0.96 on Thursday, reaching $66.35. The stock had a trading volume of 1,376,986 shares, compared to its average volume of 1,365,752. 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 business's 50-day moving average price is $63.44 and its two-hundred day moving average price is $56.49. The stock has a market cap of $62.67 billion, a P/E ratio of 12.58, a price-to-earnings-growth ratio of 1.76 and a beta of 1.06. Canadian Imperial Bank of Commerce has a fifty-two week low of $42.97 and a fifty-two week high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be given a dividend of $0.6912 per share. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.76 dividend on an annualized basis and a yield of 4.17%. Canadian Imperial Bank of Commerce's payout ratio is currently 53.46%.

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.