TD Asset Management Inc. grew its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,600,495 shares of the bank's stock after acquiring an additional 851,164 shares during the quarter. Canadian Imperial Bank of Commerce comprises about 1.3% of TD Asset Management Inc.'s investment portfolio, making the stock its 13th largest holding. TD Asset Management Inc. owned about 2.50% of Canadian Imperial Bank of Commerce worth $1,492,138,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Natixis Advisors LLC lifted its stake in Canadian Imperial Bank of Commerce by 8.9% during the third quarter. Natixis Advisors LLC now owns 46,892 shares of the bank's stock valued at $2,876,000 after purchasing an additional 3,836 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Canadian Imperial Bank of Commerce by 32.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 112,033 shares of the bank's stock valued at $6,872,000 after acquiring an additional 27,291 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 3.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,518,979 shares of the bank's stock worth $154,679,000 after acquiring an additional 93,160 shares in the last quarter. Raymond James Trust N.A. grew its holdings in shares of Canadian Imperial Bank of Commerce by 3.5% in the 3rd quarter. Raymond James Trust N.A. now owns 15,739 shares of the bank's stock worth $965,000 after acquiring an additional 527 shares during the last quarter. Finally, Citigroup Inc. raised its position in shares of Canadian Imperial Bank of Commerce by 5.2% during the third quarter. Citigroup Inc. now owns 352,332 shares of the bank's stock worth $21,636,000 after purchasing an additional 17,457 shares during the period. 49.88% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on CM shares. StockNews.com raised Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research note on Friday, February 14th. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and upped their price target for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $92.00.
View Our Latest Stock Analysis on Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce Stock Performance
CM stock traded down $1.13 during mid-day trading on Friday, reaching $56.16. 1,310,798 shares of the stock traded hands, compared to its average volume of 1,146,790. The firm has a market capitalization of $52.79 billion, a PE ratio of 10.50, a P/E/G ratio of 1.62 and a beta of 1.07. The business has a 50-day moving average of $60.03 and a two-hundred day moving average of $62.05. Canadian Imperial Bank of Commerce has a 52 week low of $46.50 and a 52 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.
Canadian Imperial Bank of Commerce Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be given a $0.6723 dividend. This represents a $2.69 annualized dividend and a yield of 4.79%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 48.03%.
About Canadian Imperial Bank of Commerce
(
Free Report)
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.
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