Canadian Imperial Bank of Commerce (NYSE:CM) Shares Purchased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ increased its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 244.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 417,930 shares of the bank's stock after purchasing an additional 296,738 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Canadian Imperial Bank of Commerce were worth $26,493,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Crews Bank & Trust acquired a new stake in Canadian Imperial Bank of Commerce in the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. acquired a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at approximately $30,000. IFP Advisors Inc lifted its stake in Canadian Imperial Bank of Commerce by 318.1% during the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank's stock valued at $34,000 after acquiring an additional 404 shares during the period. BNP Paribas Financial Markets acquired a new stake in Canadian Imperial Bank of Commerce during the 3rd quarter valued at approximately $44,000. Finally, Versant Capital Management Inc lifted its stake in Canadian Imperial Bank of Commerce by 1,069.4% during the 4th quarter. Versant Capital Management Inc now owns 725 shares of the bank's stock valued at $46,000 after acquiring an additional 663 shares during the period. 49.88% of the stock is currently owned by institutional investors and hedge funds.

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Canadian Imperial Bank of Commerce Stock Performance

Shares of CM traded down $0.42 during trading hours on Tuesday, hitting $56.76. The stock had a trading volume of 669,396 shares, compared to its average volume of 1,094,546. 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 firm has a 50-day moving average price of $60.99 and a 200 day moving average price of $62.20. Canadian Imperial Bank of Commerce has a fifty-two week low of $46.50 and a fifty-two week high of $67.45. The firm has a market capitalization of $53.36 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 1.62 and a beta of 1.07.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently announced 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 dividend yield of 4.74%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 48.03%.

Analyst Upgrades and Downgrades

CM has been the subject of several research reports. 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 note on Wednesday, January 8th. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $92.00.

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.