Canadian Imperial Bank of Commerce (NYSE:CM) Shares Bought by FIL Ltd

FIL Ltd grew its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 53.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,387,607 shares of the bank’s stock after acquiring an additional 4,321,451 shares during the quarter. Canadian Imperial Bank of Commerce makes up approximately 0.7% of FIL Ltd’s holdings, making the stock its 29th largest position. FIL Ltd’s holdings in Canadian Imperial Bank of Commerce were worth $783,613,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. PDS Planning Inc grew its holdings in shares of Canadian Imperial Bank of Commerce by 3.8% during the fourth quarter. PDS Planning Inc now owns 5,167 shares of the bank’s stock valued at $327,000 after purchasing an additional 189 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Canadian Imperial Bank of Commerce by 4.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank’s stock worth $255,000 after buying an additional 194 shares during the last quarter. Mesirow Financial Investment Management Inc. lifted its stake in Canadian Imperial Bank of Commerce by 0.7% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 33,094 shares of the bank’s stock valued at $2,092,000 after buying an additional 222 shares during the last quarter. MML Investors Services LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce by 0.5% during the third quarter. MML Investors Services LLC now owns 44,008 shares of the bank’s stock valued at $2,699,000 after acquiring an additional 237 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of 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 valued at $73,000 after acquiring an additional 250 shares during the period. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Trading Down 3.0 %

Shares of NYSE:CM opened at $54.96 on Tuesday. Canadian Imperial Bank of Commerce has a twelve month low of $46.50 and a twelve month high of $67.45. The firm has a market cap of $51.66 billion, a P/E ratio of 10.27, a P/E/G ratio of 1.62 and a beta of 0.98. The company has a 50 day moving average of $59.26 and a 200-day moving average of $61.87. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be paid a dividend of $0.6723 per share. The ex-dividend date is Friday, March 28th. This represents a $2.69 annualized dividend and a yield of 4.89%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 48.03%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Friday. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $92.00.

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.