Canadian Imperial Bank of Commerce (NYSE:CM) Shares Bought by Signaturefd LLC

Signaturefd LLC grew its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 22,347 shares of the bank’s stock after purchasing an additional 667 shares during the period. Signaturefd LLC’s holdings in Canadian Imperial Bank of Commerce were worth $1,413,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Crews Bank & Trust acquired a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $30,000. IFP Advisors Inc raised its position in shares of Canadian Imperial Bank of Commerce by 318.1% during the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock worth $34,000 after purchasing an additional 404 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter worth approximately $44,000. Finally, Versant Capital Management Inc raised its position in shares of Canadian Imperial Bank of Commerce by 1,069.4% during 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 during the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CM has been the subject of several recent analyst reports. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $97.00 to $103.00 in a research note on Wednesday, January 8th. StockNews.com raised shares of 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 assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Stock Down 0.7 %

Shares of NYSE CM opened at $56.76 on Wednesday. Canadian Imperial Bank of Commerce has a 52-week low of $46.50 and a 52-week high of $67.45. The firm has a fifty day moving average of $60.87 and a 200-day moving average of $62.19. The stock has a market capitalization of $53.36 billion, a PE ratio of 10.61, a P/E/G ratio of 1.62 and a beta of 1.07. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14.

Canadian Imperial Bank of Commerce Cuts Dividend

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