Capital International Investors Takes Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Capital International Investors acquired a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,708,822 shares of the bank’s stock, valued at approximately $424,386,000.

Other institutional investors have also recently bought and sold shares of the company. Crews Bank & Trust bought a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth $25,000. Operose Advisors LLC bought a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth about $26,000. SBI Securities Co. Ltd. acquired a new position in Canadian Imperial Bank of Commerce in the fourth quarter valued at about $30,000. Sandy Spring Bank bought a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth about $32,000. Finally, IFP Advisors Inc raised its position in shares of Canadian Imperial Bank of Commerce by 318.1% during the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock worth $34,000 after purchasing an additional 404 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $97.00 to $103.00 in a research note 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 Monday, April 14th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of “Moderate Buy” and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM opened at $58.94 on Friday. The company has a 50 day moving average of $58.14 and a 200-day moving average of $61.55. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock 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 twelve month low of $46.50 and a twelve month high of $67.45.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be paid a $0.6723 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.69 annualized dividend and a yield of 4.56%. Canadian Imperial Bank of Commerce’s payout ratio is currently 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.