Jupiter Asset Management Ltd. Makes New $36.73 Million Investment in Canadian Imperial Bank of Commerce (NYSE:CM)

Jupiter Asset Management Ltd. bought a new position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 580,982 shares of the bank’s stock, valued at approximately $36,733,000. Jupiter Asset Management Ltd. owned 0.06% of Canadian Imperial Bank of Commerce at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Sequoia Financial Advisors LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 7.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,977 shares of the bank’s stock worth $251,000 after buying an additional 279 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth $205,000. Mesirow Financial Investment Management Inc. lifted its stake in shares of Canadian Imperial Bank of Commerce by 0.7% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 33,094 shares of the bank’s stock worth $2,092,000 after purchasing an additional 222 shares during the last quarter. Andra AP fonden lifted its stake in shares of Canadian Imperial Bank of Commerce by 73.5% during the 4th quarter. Andra AP fonden now owns 182,700 shares of the bank’s stock worth $11,552,000 after purchasing an additional 77,400 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth $24,997,000. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Trading Down 0.5 %

Canadian Imperial Bank of Commerce stock opened at $55.33 on Wednesday. The stock has a 50-day moving average of $61.54 and a two-hundred day moving average of $62.18. 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 stock has a market cap of $52.14 billion, a PE ratio of 10.34, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07. Canadian Imperial Bank of Commerce has a one year low of $46.50 and a one year high of $67.45.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders 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 dividend yield of 4.86%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 48.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CM shares. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $97.00 to $103.00 in a research note on Wednesday, January 8th. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $92.00.

About Canadian Imperial Bank of Commerce

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.