Aviso Financial Inc. Grows Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Aviso Financial Inc. raised its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1,098.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 639,512 shares of the bank’s stock after buying an additional 586,160 shares during the quarter. Canadian Imperial Bank of Commerce comprises 2.0% of Aviso Financial Inc.’s portfolio, making the stock its 18th biggest holding. Aviso Financial Inc. owned approximately 0.07% of Canadian Imperial Bank of Commerce worth $40,444,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Crews Bank & Trust purchased a new position in Canadian Imperial Bank of Commerce during the 4th quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new position in Canadian Imperial Bank of Commerce during the 4th quarter valued at approximately $30,000. IFP Advisors Inc grew its holdings in Canadian Imperial Bank of Commerce by 318.1% during the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock valued at $34,000 after buying an additional 404 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Canadian Imperial Bank of Commerce during the 3rd quarter valued at approximately $44,000. Finally, Versant Capital Management Inc lifted its stake in shares of Canadian Imperial Bank of Commerce by 1,069.4% in the 4th quarter. Versant Capital Management Inc now owns 725 shares of the bank’s stock valued at $46,000 after purchasing an additional 663 shares during the last quarter. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CM. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. One research 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM stock opened at $55.07 on Friday. Canadian Imperial Bank of Commerce has a 52-week low of $46.50 and a 52-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 firm has a market capitalization of $51.90 billion, a P/E ratio of 10.29, a P/E/G ratio of 1.62 and a beta of 1.07. The stock has a 50 day moving average price of $61.24 and a 200 day moving average price of $62.09.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be paid a dividend of $0.6723 per share. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.88%. 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.