Stratos Wealth Partners LTD. Purchases New Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Stratos Wealth Partners LTD. bought a new stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,193 shares of the bank's stock, valued at approximately $265,000.

Several other hedge funds have also recently made changes to their positions in CM. Sanctuary Advisors LLC acquired a new position in shares of Canadian Imperial Bank of Commerce in the 2nd quarter valued at $326,000. Creative Planning increased its position in shares of Canadian Imperial Bank of Commerce by 12.8% in the 3rd quarter. Creative Planning now owns 67,492 shares of the bank's stock valued at $4,140,000 after acquiring an additional 7,670 shares during the period. Bleakley Financial Group LLC increased its position in shares of Canadian Imperial Bank of Commerce by 7.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 6,908 shares of the bank's stock valued at $424,000 after acquiring an additional 460 shares during the period. Blue Trust Inc. grew its position in Canadian Imperial Bank of Commerce by 571.6% during the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank's stock worth $45,000 after purchasing an additional 623 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Canadian Imperial Bank of Commerce during the 3rd quarter worth about $4,741,000. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM traded up $0.09 during trading on Monday, reaching $62.10. 546,590 shares of the company's stock traded hands, compared to its average volume of 1,094,838. Canadian Imperial Bank of Commerce has a fifty-two week low of $45.13 and a fifty-two week 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 firm has a market cap of $58.53 billion, a PE ratio of 11.61, a P/E/G ratio of 1.64 and a beta of 1.05. The company has a 50-day simple moving average of $63.40 and a 200-day simple moving average of $61.23.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th were given a dividend of $0.6912 per share. The ex-dividend date was Friday, December 27th. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.65. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.45%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 51.22%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CM. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and increased their price target for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com raised Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $92.00.

Canadian Imperial Bank of Commerce Company 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.