Mn Services Vermogensbeheer B.V. Has $12.86 Million Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Mn Services Vermogensbeheer B.V. boosted its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 203,400 shares of the bank’s stock after purchasing an additional 3,000 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Canadian Imperial Bank of Commerce were worth $12,860,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Checchi Capital Advisers LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 16.1% during the fourth quarter. Checchi Capital Advisers LLC now owns 4,149 shares of the bank’s stock worth $262,000 after buying an additional 576 shares in the last quarter. Bank of New York Mellon Corp grew its position in Canadian Imperial Bank of Commerce by 7.3% during the 4th quarter. Bank of New York Mellon Corp now owns 868,803 shares of the bank’s stock worth $54,934,000 after acquiring an additional 58,830 shares during the last quarter. IFP Advisors Inc increased its holdings in Canadian Imperial Bank of Commerce by 318.1% during the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock valued at $34,000 after purchasing an additional 404 shares in the last quarter. Pinnacle Financial Partners Inc raised its position in Canadian Imperial Bank of Commerce by 0.3% in the 4th quarter. Pinnacle Financial Partners Inc now owns 207,548 shares of the bank’s stock valued at $13,123,000 after purchasing an additional 539 shares during the last quarter. Finally, Alberta Investment Management Corp boosted its stake in Canadian Imperial Bank of Commerce by 74.4% in the fourth quarter. Alberta Investment Management Corp now owns 1,572,963 shares of the bank’s stock worth $99,450,000 after purchasing an additional 671,028 shares in the last quarter. 49.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CM has been the subject of a number of research reports. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. One investment 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 data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock opened at $59.90 on Friday. The business’s 50-day simple moving average is $62.56 and its 200 day simple moving average is $61.77. 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 cap of $56.45 billion, a price-to-earnings ratio of 11.20, a P/E/G ratio of 1.62 and a beta of 1.05. Canadian Imperial Bank of Commerce has a 12-month low of $46.11 and a 12-month high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th were given a dividend of $0.6912 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date was Friday, December 27th. This represents a $2.76 annualized dividend and a dividend yield of 4.62%. Canadian Imperial Bank of Commerce’s payout ratio is currently 51.21%.

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.