American Century Companies Inc. Has $18.93 Million Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

American Century Companies Inc. raised its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 8.5% in the 4th quarter, HoldingsChannel reports. The firm owned 299,211 shares of the bank’s stock after purchasing an additional 23,403 shares during the quarter. American Century Companies Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $18,927,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. PDS Planning Inc raised its position in Canadian Imperial Bank of Commerce by 3.8% in the 4th quarter. PDS Planning Inc now owns 5,167 shares of the bank’s stock worth $327,000 after purchasing an additional 189 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 4.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank’s stock valued at $255,000 after acquiring an additional 194 shares during the period. Mesirow Financial Investment Management Inc. boosted its holdings 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 acquiring an additional 222 shares during the last quarter. MML Investors Services LLC increased its position in Canadian Imperial Bank of Commerce by 0.5% in the third quarter. MML Investors Services LLC now owns 44,008 shares of the bank’s stock worth $2,699,000 after purchasing an additional 237 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in Canadian Imperial Bank of Commerce by 27.4% during 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 during the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Analyst Upgrades and Downgrades

CM has been the subject of several analyst reports. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday, February 14th. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Stock Down 2.0 %

Shares of NYSE:CM opened at $56.16 on Monday. The company has a 50 day moving average price of $60.03 and a two-hundred day moving average price of $62.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $52.79 billion, a PE ratio of 10.50, a PEG ratio of 1.62 and a beta of 1.07. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be given a $0.6723 dividend. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 48.03%.

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.