Russell Investments Group Ltd. Has $28.33 Million Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Russell Investments Group Ltd. lowered its holdings in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 10.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 448,005 shares of the bank's stock after selling 53,781 shares during the quarter. Russell Investments Group Ltd.'s holdings in Canadian Imperial Bank of Commerce were worth $28,332,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets bought a new stake in shares of Canadian Imperial Bank of Commerce in the 3rd quarter worth about $44,000. Quantinno Capital Management LP increased its holdings in shares of Canadian Imperial Bank of Commerce by 7.9% during the third quarter. Quantinno Capital Management LP now owns 36,292 shares of the bank's stock worth $2,226,000 after buying an additional 2,668 shares in the last quarter. State Street Corp bought a new position in shares of Canadian Imperial Bank of Commerce in the third quarter valued at approximately $227,000. Orion Portfolio Solutions LLC grew its position in Canadian Imperial Bank of Commerce by 76.1% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 15,935 shares of the bank's stock worth $977,000 after acquiring an additional 6,888 shares during the last quarter. Finally, MML Investors Services LLC increased its holdings in Canadian Imperial Bank of Commerce by 0.5% during the 3rd quarter. MML Investors Services LLC now owns 44,008 shares of the bank's stock valued at $2,699,000 after purchasing an additional 237 shares in the last quarter. Institutional investors own 49.88% of the company's stock.

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Analysts Set New Price Targets

A number of research firms have commented on CM. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $97.00 to $103.00 in a research note on Wednesday, January 8th. StockNews.com lowered shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a report on Friday, April 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Trading Up 1.4 %

CM stock traded up $0.82 during midday trading on Monday, reaching $57.92. The stock had a trading volume of 121,966 shares, compared to its average volume of 1,145,826. The firm has a market cap of $54.45 billion, a price-to-earnings ratio of 10.83, a PEG ratio of 1.62 and a beta of 0.98. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a twelve month low of $46.50 and a twelve month high of $67.45. The business has a fifty day simple moving average of $58.45 and a two-hundred day simple moving average of $61.64.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be issued a $0.6723 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a yield of 4.64%. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 48.03%.

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.