Bridgewater Associates LP Has $1.24 Million Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Bridgewater Associates LP increased its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 100.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 19,644 shares of the bank’s stock after purchasing an additional 9,860 shares during the quarter. Bridgewater Associates LP’s holdings in Canadian Imperial Bank of Commerce were worth $1,242,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in CM. Guggenheim Capital LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 36.2% in the fourth quarter. Guggenheim Capital LLC now owns 5,614 shares of the bank’s stock worth $355,000 after purchasing an additional 1,491 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $442,000. Mariner LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 3.8% in the 4th quarter. Mariner LLC now owns 34,588 shares of the bank’s stock valued at $2,187,000 after acquiring an additional 1,272 shares in the last quarter. Barclays PLC increased its position in shares of Canadian Imperial Bank of Commerce by 106.4% in the fourth quarter. Barclays PLC now owns 49,885 shares of the bank’s stock valued at $3,154,000 after acquiring an additional 25,712 shares during the last quarter. Finally, BTG Pactual Asset Management US LLC bought a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth about $1,271,000. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

Shares of NYSE CM opened at $58.94 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $55.41 billion, a P/E ratio of 11.02, a P/E/G ratio of 1.62 and a beta of 0.98. Canadian Imperial Bank of Commerce has a 12 month low of $46.50 and a 12 month high of $67.45. The stock has a 50 day moving average of $58.14 and a 200-day moving average of $61.55.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be given a dividend of $0.6723 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a yield of 4.56%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 48.03%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CM shares. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Monday, April 14th. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce presently has an average rating of “Moderate Buy” and a consensus price target of $92.00.

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.