Renaissance Technologies LLC Buys 117,900 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Renaissance Technologies LLC lifted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 38.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 426,728 shares of the bank's stock after acquiring an additional 117,900 shares during the period. Renaissance Technologies LLC's holdings in Canadian Imperial Bank of Commerce were worth $26,982,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CM. JPMorgan Chase & Co. boosted its position in Canadian Imperial Bank of Commerce by 6.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank's stock worth $359,320,000 after acquiring an additional 334,545 shares during the period. Rhumbline Advisers lifted its holdings in Canadian Imperial Bank of Commerce by 12.6% in 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. American Century Companies Inc. grew its position in Canadian Imperial Bank of Commerce by 8.5% in the 4th quarter. American Century Companies Inc. now owns 299,211 shares of the bank's stock valued at $18,927,000 after buying an additional 23,403 shares in the last quarter. Smith Group Asset Management LLC bought a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $4,875,000. Finally, Mission Wealth Management LP bought a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $322,000. Institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Price Performance

CM stock traded up $0.17 on Friday, hitting $58.94. 588,465 shares of the company's stock traded hands, compared to its average volume of 1,144,478. The stock has a market cap of $55.41 billion, a price-to-earnings ratio of 11.02, a P/E/G ratio of 1.62 and a beta of 0.98. 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 current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average of $58.19 and a 200-day moving average of $61.56.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be paid a $0.6723 dividend. This represents a $2.69 annualized dividend and a yield of 4.56%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 48.03%.

Analyst Ratings Changes

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

About Canadian Imperial Bank of Commerce

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.