Andra AP fonden raised its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 73.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 182,700 shares of the bank's stock after purchasing an additional 77,400 shares during the period. Andra AP fonden's holdings in Canadian Imperial Bank of Commerce were worth $11,552,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the company. CIBC Asset Management Inc grew its stake in shares of Canadian Imperial Bank of Commerce by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank's stock worth $696,659,000 after acquiring an additional 375,837 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Canadian Imperial Bank of Commerce by 14.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,641,498 shares of the bank's stock worth $652,676,000 after purchasing an additional 1,305,665 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Canadian Imperial Bank of Commerce by 6.1% in the third quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank's stock valued at $359,320,000 after purchasing an additional 334,545 shares during the period. Geode Capital Management LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,245,235 shares of the bank's stock valued at $262,598,000 after buying an additional 336,854 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in shares of Canadian Imperial Bank of Commerce by 32.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank's stock valued at $228,043,000 after buying an additional 900,575 shares in the last quarter. 49.88% of the stock is currently owned by institutional investors.
A number of equities research analysts have issued reports on the stock. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and boosted their target price for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. StockNews.com upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $92.00.
Get Our Latest Stock Report on CM
Shares of Canadian Imperial Bank of Commerce stock traded down $0.10 during trading on Friday, hitting $56.70. The stock had a trading volume of 820,403 shares, compared to its average volume of 1,108,527. 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 has a 12 month low of $46.50 and a 12 month high of $67.45. The firm has a market cap of $53.43 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 1.62 and a beta of 1.07. The business's 50-day moving average is $61.85 and its 200 day moving average is $62.10.
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 paid a $0.6723 dividend. This represents a $2.69 dividend on an annualized basis and a yield of 4.74%. 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, 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.
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