Vanguard Group Inc. increased its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,385,238 shares of the bank's stock after buying an additional 749,843 shares during the quarter. Vanguard Group Inc. owned about 4.18% of Canadian Imperial Bank of Commerce worth $2,491,431,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Guardian Partners Inc. purchased a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth about $21,341,000. Fox Run Management L.L.C. increased its holdings in Canadian Imperial Bank of Commerce by 139.2% during the 4th quarter. Fox Run Management L.L.C. now owns 14,163 shares of the bank's stock worth $896,000 after purchasing an additional 8,243 shares during the last quarter. Hillsdale Investment Management Inc. increased its holdings in Canadian Imperial Bank of Commerce by 138.0% during the 4th quarter. Hillsdale Investment Management Inc. now owns 962,026 shares of the bank's stock worth $60,788,000 after purchasing an additional 557,820 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 8.5% during the 4th quarter. American Century Companies Inc. now owns 299,211 shares of the bank's stock valued at $18,927,000 after buying an additional 23,403 shares during the last quarter. Finally, Summit Global Investments acquired a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $1,449,000. Hedge funds and other institutional investors own 49.88% of the company's stock.
Analyst Ratings Changes
Several research firms recently issued reports on CM. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report 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 target price for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of "Moderate Buy" and an average target price of $92.00.
Check Out Our Latest Analysis on Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce Stock Performance
CM traded down $1.13 during trading hours on Friday, hitting $56.16. 1,310,798 shares of the stock were exchanged, compared to its average volume of 1,146,790. The stock has a market cap of $52.79 billion, a price-to-earnings ratio of 10.50, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07. The stock has a 50-day simple moving average of $60.03 and a 200-day simple moving average of $62.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a 12 month low of $46.50 and a 12 month high of $67.45.
Canadian Imperial Bank of Commerce Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be paid a dividend of $0.6723 per share. The ex-dividend date is Friday, March 28th. This represents a $2.69 annualized dividend and a yield of 4.79%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 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.
Featured Articles
Before you consider Canadian Imperial Bank of Commerce, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Canadian Imperial Bank of Commerce wasn't on the list.
While Canadian Imperial Bank of Commerce currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
