Choreo LLC Boosts Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Choreo LLC raised its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 16.6% during the fourth quarter, HoldingsChannel reports. The firm owned 4,775 shares of the bank’s stock after purchasing an additional 679 shares during the period. Choreo LLC’s holdings in Canadian Imperial Bank of Commerce were worth $302,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crews Bank & Trust purchased a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth approximately $25,000. BNP Paribas Financial Markets acquired a new stake in Canadian Imperial Bank of Commerce in the 3rd quarter worth approximately $44,000. Blue Trust Inc. boosted its stake in Canadian Imperial Bank of Commerce by 571.6% in the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock worth $45,000 after purchasing an additional 623 shares in the last quarter. Versant Capital Management Inc boosted its stake in Canadian Imperial Bank of Commerce by 1,069.4% in the 4th quarter. Versant Capital Management Inc now owns 725 shares of the bank’s stock worth $46,000 after purchasing an additional 663 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in Canadian Imperial Bank of Commerce by 27.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,161 shares of the bank’s stock worth $73,000 after purchasing an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

NYSE:CM opened at $62.03 on Friday. 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 cap of $58.45 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 1.64 and a beta of 1.05. The company has a 50 day moving average price of $63.58 and a 200-day moving average price of $61.01. Canadian Imperial Bank of Commerce has a 1-year low of $44.66 and a 1-year high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th were issued a dividend of $0.6912 per share. This represents a $2.76 annualized dividend and a dividend yield of 4.46%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Friday, December 27th. Canadian Imperial Bank of Commerce’s payout ratio is 51.22%.

Analysts Set New Price Targets

A number of analysts recently commented on CM shares. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday. 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 note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce has an average rating of “Moderate Buy” and an average target price 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.