Blair William & Co. IL Has $358,000 Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Blair William & Co. IL raised its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,658 shares of the bank’s stock after acquiring an additional 383 shares during the quarter. Blair William & Co. IL’s holdings in Canadian Imperial Bank of Commerce were worth $358,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. BNP Paribas Financial Markets bought a new stake in Canadian Imperial Bank of Commerce during the 3rd quarter worth $44,000. Benjamin Edwards Inc. bought a new stake in shares of Canadian Imperial Bank of Commerce during the third quarter worth about $525,000. Quantinno Capital Management LP increased its stake in shares of Canadian Imperial Bank of Commerce by 7.9% in the third quarter. Quantinno Capital Management LP now owns 36,292 shares of the bank’s stock valued at $2,226,000 after buying an additional 2,668 shares during the period. Quadrature Capital Ltd bought a new position in Canadian Imperial Bank of Commerce in the 3rd quarter valued at approximately $4,739,000. Finally, State Street Corp acquired a new stake in Canadian Imperial Bank of Commerce during the 3rd quarter worth approximately $227,000. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on CM. 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 target for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com downgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Friday. One equities research 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Trading Down 3.6 %

Shares of CM stock opened at $56.79 on Friday. Canadian Imperial Bank of Commerce has a fifty-two week low of $46.50 and a fifty-two week high of $67.45. 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 stock has a 50 day simple moving average of $59.43 and a two-hundred day simple moving average of $61.91. The company has a market cap of $53.39 billion, a P/E ratio of 10.62, a PEG ratio of 1.62 and a beta of 0.98.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be given a dividend of $0.6723 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.74%. Canadian Imperial Bank of Commerce’s payout ratio is presently 48.03%.

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.