Texas Yale Capital Corp. Purchases 1,000 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Texas Yale Capital Corp. lifted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 18.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,570 shares of the bank’s stock after buying an additional 1,000 shares during the period. Texas Yale Capital Corp.’s holdings in Canadian Imperial Bank of Commerce were worth $415,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $570,477,000. FIL Ltd increased its position in Canadian Imperial Bank of Commerce by 53.6% during the 4th quarter. FIL Ltd now owns 12,387,607 shares of the bank’s stock worth $783,613,000 after purchasing an additional 4,321,451 shares in the last quarter. JPMorgan Chase & Co. increased its position in Canadian Imperial Bank of Commerce by 37.3% during the 4th quarter. JPMorgan Chase & Co. now owns 8,043,106 shares of the bank’s stock worth $508,566,000 after purchasing an additional 2,185,262 shares in the last quarter. Geode Capital Management LLC increased its position in Canadian Imperial Bank of Commerce by 31.3% during the 4th quarter. Geode Capital Management LLC now owns 5,573,202 shares of the bank’s stock worth $357,480,000 after purchasing an additional 1,327,967 shares in the last quarter. Finally, TD Asset Management Inc. increased its position in Canadian Imperial Bank of Commerce by 3.7% during the 4th quarter. TD Asset Management Inc. now owns 23,600,495 shares of the bank’s stock worth $1,492,138,000 after purchasing an additional 851,164 shares in the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Up 4.7 %

Shares of NYSE CM opened at $57.19 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. Canadian Imperial Bank of Commerce has a 52-week low of $46.50 and a 52-week high of $67.45. The firm has a 50 day moving average price of $58.62 and a two-hundred day moving average price of $61.71. The stock has a market cap of $53.76 billion, a P/E ratio of 10.69, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98.

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 given a $0.6723 dividend. This represents a $2.69 annualized dividend and a yield of 4.70%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 48.03%.

Analyst Ratings Changes

CM has been the subject of a number of research analyst reports. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com cut shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Friday, April 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and an average 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.