Canadian Imperial Bank of Commerce (NYSE:CM) Shares Purchased by Savant Capital LLC

Savant Capital LLC grew its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 38.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,053 shares of the bank's stock after purchasing an additional 4,483 shares during the quarter. Savant Capital LLC's holdings in Canadian Imperial Bank of Commerce were worth $1,015,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CM. Cidel Asset Management Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 8.9% in the 4th quarter. Cidel Asset Management Inc. now owns 448,789 shares of the bank's stock valued at $28,375,000 after acquiring an additional 36,732 shares during the period. Measured Wealth Private Client Group LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 9.8% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 11,336 shares of the bank's stock valued at $717,000 after acquiring an additional 1,015 shares during the period. Choreo LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 16.6% in the 4th quarter. Choreo LLC now owns 4,775 shares of the bank's stock valued at $302,000 after acquiring an additional 679 shares during the period. Stratos Wealth Partners LTD. acquired a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at $265,000. Finally, Five Oceans Advisors increased its holdings in shares of Canadian Imperial Bank of Commerce by 8.2% in the 4th quarter. Five Oceans Advisors now owns 4,560 shares of the bank's stock valued at $288,000 after acquiring an additional 344 shares during the period. Institutional investors and hedge funds own 49.88% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Friday. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of "Moderate Buy" and an average price target of $92.00.

Canadian Imperial Bank of Commerce Stock Performance

NYSE:CM traded down $0.04 during midday trading on Tuesday, reaching $62.03. The stock had a trading volume of 129,225 shares, compared to its average volume of 1,014,101. The firm has a fifty day simple moving average of $63.31 and a two-hundred day simple moving average of $61.31. Canadian Imperial Bank of Commerce has a 12-month low of $45.84 and a 12-month high of $67.45. 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 stock has a market cap of $58.46 billion, a P/E ratio of 11.59, a P/E/G ratio of 1.64 and a beta of 1.05.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th were 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. This represents a $2.76 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend was Friday, December 27th. Canadian Imperial Bank of Commerce's payout ratio is presently 51.22%.

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.