Capital World Investors Purchases 4,181 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Capital World Investors boosted its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 0.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,293,453 shares of the bank’s stock after purchasing an additional 4,181 shares during the quarter. Capital World Investors owned about 0.56% of Canadian Imperial Bank of Commerce worth $334,705,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CM. PDS Planning Inc increased its stake in Canadian Imperial Bank of Commerce by 3.8% in the fourth quarter. PDS Planning Inc now owns 5,167 shares of the bank’s stock valued at $327,000 after acquiring an additional 189 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 4.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank’s stock valued at $255,000 after purchasing an additional 194 shares during the last quarter. Mesirow Financial Investment Management Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 0.7% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 33,094 shares of the bank’s stock valued at $2,092,000 after purchasing an additional 222 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Canadian Imperial Bank of Commerce by 27.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,161 shares of the bank’s stock worth $73,000 after buying an additional 250 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in Canadian Imperial Bank of Commerce by 5.7% in the fourth quarter. Fifth Third Bancorp now owns 4,971 shares of the bank’s stock valued at $314,000 after buying an additional 270 shares during the period. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Up 0.3 %

Shares of Canadian Imperial Bank of Commerce stock opened at $58.94 on Monday. The company’s 50 day moving average price is $58.14 and its 200-day moving average price is $61.56. Canadian Imperial Bank of Commerce has a 52-week low of $46.50 and a 52-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. The stock has a market capitalization of $55.41 billion, a price-to-earnings ratio of 11.02, a P/E/G ratio of 1.62 and a beta of 0.98.

Canadian Imperial Bank of Commerce Cuts Dividend

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

Analysts Set New Price Targets

Several brokerages recently issued reports on CM. StockNews.com raised shares of 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 raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and four have given 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 an average target price 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.