Two Sigma Securities LLC Takes Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Two Sigma Securities LLC acquired a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,194 shares of the bank's stock, valued at approximately $328,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CM. Norges Bank bought a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth $570,477,000. Capital International Investors acquired a new stake in Canadian Imperial Bank of Commerce in the 4th quarter worth $424,386,000. FIL Ltd increased its holdings in shares of Canadian Imperial Bank of Commerce by 53.6% during the 4th quarter. FIL Ltd now owns 12,387,607 shares of the bank's stock worth $783,613,000 after purchasing an additional 4,321,451 shares during the period. JPMorgan Chase & Co. raised its position in shares of Canadian Imperial Bank of Commerce by 37.3% during the fourth quarter. JPMorgan Chase & Co. now owns 8,043,106 shares of the bank's stock valued at $508,566,000 after buying an additional 2,185,262 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 31.3% in the fourth quarter. Geode Capital Management LLC now owns 5,573,202 shares of the bank's stock valued at $357,480,000 after buying an additional 1,327,967 shares during the period. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Trading Up 1.2 %

CM stock opened at $61.12 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The firm has a market cap of $57.46 billion, a P/E ratio of 11.42, a P/E/G ratio of 1.62 and a beta of 0.98. Canadian Imperial Bank of Commerce has a 1-year low of $46.50 and a 1-year high of $67.45. The business's 50 day moving average is $57.94 and its 200-day moving average is $61.56.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.6723 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.69 annualized dividend and a yield of 4.40%. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 48.03%.

Analyst Ratings Changes

Several brokerages recently issued reports on CM. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Finally, StockNews.com cut Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" 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.

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