XTX Topco Ltd Purchases New Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

XTX Topco Ltd acquired a new stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,995 shares of the bank's stock, valued at approximately $442,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CM. Crews Bank & Trust purchased a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at approximately $25,000. SBI Securities Co. Ltd. acquired a new position in Canadian Imperial Bank of Commerce during the 4th quarter worth about $30,000. Sandy Spring Bank acquired a new position in Canadian Imperial Bank of Commerce in the 4th quarter valued at about $32,000. IFP Advisors Inc boosted its stake in shares of Canadian Imperial Bank of Commerce by 318.1% in the fourth 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. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $44,000. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CM has been the subject of several recent research reports. StockNews.com cut shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research report on Tuesday. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research note on Monday. Finally, Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Stock Up 1.3 %

NYSE CM traded up $0.76 during trading on Friday, reaching $61.13. 345,310 shares of the company's stock were exchanged, compared to its average volume of 1,137,362. Canadian Imperial Bank of Commerce has a 1 year low of $46.50 and a 1 year high of $67.45. The stock has a market cap of $57.47 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. 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 50 day moving average price of $57.96 and a two-hundred day moving average price of $61.53.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be issued a $0.6723 dividend. This represents a $2.69 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 48.03%.

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.