Versor Investments LP Has $1.26 Million Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Versor Investments LP raised its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 227.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,856 shares of the bank's stock after purchasing an additional 13,801 shares during the period. Versor Investments LP's holdings in Canadian Imperial Bank of Commerce were worth $1,255,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Crews Bank & Trust bought a new stake in Canadian Imperial Bank of Commerce in the fourth quarter valued at $25,000. IFP Advisors Inc boosted 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 purchasing an additional 404 shares during the period. BNP Paribas Financial Markets bought a new position in Canadian Imperial Bank of Commerce in the 3rd quarter worth about $44,000. Blue Trust Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 571.6% in the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank's stock worth $45,000 after buying an additional 623 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Canadian Imperial Bank of Commerce by 1,069.4% in the fourth quarter. Versant Capital Management Inc now owns 725 shares of the bank's stock valued at $46,000 after buying an additional 663 shares during the period. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Trading Down 1.5 %

CM traded down $0.90 during trading on Monday, reaching $59.68. The company had a trading volume of 854,190 shares, compared to its average volume of 1,152,381. The firm's 50-day simple moving average is $62.48 and its 200 day simple moving average is $61.99. 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 company has a market cap of $56.24 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 1.62 and a beta 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 company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be given a $0.6723 dividend. This represents a $2.69 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is currently 47.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CM shares. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of "Hold" and a consensus 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.