Vanguard Group Inc. Boosts Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Vanguard Group Inc. boosted its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,385,238 shares of the bank’s stock after purchasing an additional 749,843 shares during the period. Vanguard Group Inc. owned about 4.18% of Canadian Imperial Bank of Commerce worth $2,491,431,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Guardian Partners Inc. purchased a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth approximately $21,341,000. Fox Run Management L.L.C. lifted its position in Canadian Imperial Bank of Commerce by 139.2% during the fourth quarter. Fox Run Management L.L.C. now owns 14,163 shares of the bank’s stock valued at $896,000 after purchasing an additional 8,243 shares in the last quarter. Hillsdale Investment Management Inc. grew its holdings in Canadian Imperial Bank of Commerce by 138.0% during the fourth quarter. Hillsdale Investment Management Inc. now owns 962,026 shares of the bank’s stock valued at $60,788,000 after purchasing an additional 557,820 shares during the period. American Century Companies Inc. increased its position in Canadian Imperial Bank of Commerce by 8.5% in the fourth quarter. American Century Companies Inc. now owns 299,211 shares of the bank’s stock worth $18,927,000 after buying an additional 23,403 shares in the last quarter. Finally, Summit Global Investments bought a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth about $1,449,000. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Stock Performance

NYSE CM opened at $57.99 on Wednesday. The company has a market cap of $54.51 billion, a P/E ratio of 10.84, a P/E/G ratio of 1.62 and a beta of 1.07. The business’s 50 day moving average price is $60.35 and its 200-day moving average price is $62.13. Canadian Imperial Bank of Commerce has a fifty-two week low of $46.50 and a fifty-two week high of $67.45. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05.

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 paid a $0.6723 dividend. This represents a $2.69 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 48.03%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their price target for the stock 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 research report on Friday, February 14th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.