Achmea Investment Management B.V. Boosts Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Achmea Investment Management B.V. raised its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1,377.4% in the fourth quarter, HoldingsChannel reports. The firm owned 325,667 shares of the bank’s stock after acquiring an additional 303,624 shares during the period. Achmea Investment Management B.V.’s holdings in Canadian Imperial Bank of Commerce were worth $20,590,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in Canadian Imperial Bank of Commerce by 4.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank’s stock valued at $255,000 after purchasing an additional 194 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its position in shares of Canadian Imperial Bank of Commerce by 0.7% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 33,094 shares of the bank’s stock worth $2,092,000 after acquiring an additional 222 shares in the last quarter. MML Investors Services LLC raised its position in shares of Canadian Imperial Bank of Commerce by 0.5% in the 3rd quarter. MML Investors Services LLC now owns 44,008 shares of the bank’s stock worth $2,699,000 after acquiring an additional 237 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of 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 acquiring an additional 250 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Canadian Imperial Bank of Commerce by 5.7% in the 4th quarter. Fifth Third Bancorp now owns 4,971 shares of the bank’s stock worth $314,000 after acquiring an additional 270 shares in the last quarter. 49.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on CM shares. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $92.00.

Canadian Imperial Bank of Commerce Trading Up 1.1 %

Shares of NYSE:CM opened at $55.97 on Thursday. The business’s 50-day moving average is $61.39 and its 200 day moving average is $62.14. Canadian Imperial Bank of Commerce has a 1 year low of $46.50 and a 1 year high of $67.45. The firm has a market capitalization of $52.74 billion, a P/E ratio of 10.46, a P/E/G ratio of 1.62 and a beta of 1.07. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm 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. This represents a $2.69 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend 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.