Checchi Capital Advisers LLC Acquires 576 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Checchi Capital Advisers LLC raised its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 16.1% in the 4th quarter, Holdings Channel reports. The firm owned 4,149 shares of the bank’s stock after purchasing an additional 576 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Canadian Imperial Bank of Commerce were worth $262,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CM. Crews Bank & Trust acquired a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth approximately $25,000. IFP Advisors Inc raised its stake in 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 buying an additional 404 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Canadian Imperial Bank of Commerce in the third quarter valued at $44,000. Blue Trust Inc. boosted its position in Canadian Imperial Bank of Commerce by 571.6% during the third quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock valued at $45,000 after acquiring an additional 623 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in Canadian Imperial Bank of Commerce by 1,069.4% during the 4th quarter. Versant Capital Management Inc now owns 725 shares of the bank’s stock worth $46,000 after acquiring an additional 663 shares during the period. 49.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have 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 boosted their price objective for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Stock Performance

NYSE:CM opened at $59.90 on Friday. The company has a market capitalization of $56.45 billion, a P/E ratio of 11.20, a P/E/G ratio of 1.62 and a beta of 1.05. The business has a fifty day simple moving average of $62.56 and a two-hundred day simple moving average of $61.77. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a 1 year low of $46.11 and a 1 year high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

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

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.