Canadian Imperial Bank of Commerce (NYSE:CM) Shares Purchased by Forum Financial Management LP

Forum Financial Management LP raised its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 22.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,499 shares of the bank’s stock after acquiring an additional 1,203 shares during the quarter. Forum Financial Management LP’s holdings in Canadian Imperial Bank of Commerce were worth $411,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Crews Bank & Trust acquired a new stake in Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $25,000. Operose Advisors LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at $26,000. SBI Securities Co. Ltd. bought a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth $30,000. Sandy Spring Bank acquired a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth $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 own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

NYSE CM opened at $58.94 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $55.41 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. The company has a 50 day simple moving average of $58.14 and a 200-day simple moving average of $61.56. Canadian Imperial Bank of Commerce has a 52-week low of $46.50 and a 52-week high of $67.45.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.6723 per share. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.56%. 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

A number of research firms recently weighed in on CM. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $97.00 to $103.00 in a research report 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, the company has an average rating of “Moderate Buy” and an average price target of $92.00.

Canadian Imperial Bank of Commerce 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.