77,200 Shares in Canadian Imperial Bank of Commerce (NYSE:CM) Acquired by Quadrature Capital Ltd

Quadrature Capital Ltd purchased a new stake in 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 & Exchange Commission. The firm purchased 77,200 shares of the bank's stock, valued at approximately $4,739,000.

Several other large investors also recently made changes to their positions in the company. Toronto Dominion Bank increased its stake in shares of Canadian Imperial Bank of Commerce by 17.9% in the second quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank's stock valued at $1,233,272,000 after purchasing an additional 3,942,894 shares during the period. Cibc World Market Inc. increased its stake in shares of Canadian Imperial Bank of Commerce by 18.9% during the second quarter. Cibc World Market Inc. now owns 19,748,305 shares of the bank's stock valued at $938,834,000 after acquiring an additional 3,143,734 shares during the period. National Bank of Canada FI increased its stake in shares of Canadian Imperial Bank of Commerce by 26.8% during the second quarter. National Bank of Canada FI now owns 18,340,869 shares of the bank's stock valued at $867,377,000 after acquiring an additional 3,875,280 shares during the period. CIBC Asset Management Inc increased its stake in shares of Canadian Imperial Bank of Commerce by 3.4% during the third quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank's stock valued at $696,659,000 after acquiring an additional 375,837 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Canadian Imperial Bank of Commerce by 14.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,641,498 shares of the bank's stock valued at $652,676,000 after acquiring an additional 1,305,665 shares during the period. Institutional investors and hedge funds own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Price Performance

NYSE:CM traded up $0.13 during trading hours on Friday, reaching $66.71. 1,114,515 shares of the company's stock were exchanged, compared to its average volume of 1,365,623. The company has a market capitalization of $63.01 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 1.67 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 12 month low of $42.28 and a 12 month high of $67.14. 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 business's 50-day simple moving average is $62.99 and its two-hundred day simple moving average is $55.94.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be paid a $0.6912 dividend. 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 4.14%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is currently 52.26%.

Wall Street Analyst Weigh In

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

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.