Capital International Investors Purchases Shares of 6,708,822 Canadian Imperial Bank of Commerce (NYSE:CM)

Capital International Investors acquired a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,708,822 shares of the bank’s stock, valued at approximately $424,386,000. Capital International Investors owned approximately 0.71% of Canadian Imperial Bank of Commerce at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CM. Crews Bank & Trust acquired a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at $25,000. Operose Advisors LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at $26,000. SBI Securities Co. Ltd. acquired a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at $30,000. Sandy Spring Bank acquired a new position in Canadian Imperial Bank of Commerce during the 4th quarter worth about $32,000. Finally, 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 worth $34,000 after acquiring an additional 404 shares during the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Up 0.3 %

Shares of NYSE CM opened at $58.94 on Friday. Canadian Imperial Bank of Commerce has a 1 year low of $46.50 and a 1 year high of $67.45. The firm’s 50-day moving average is $58.14 and its 200-day moving average is $61.55. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $55.41 billion, a PE ratio of 11.02, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.6723 per share. This represents a $2.69 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 48.03%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Monday, April 14th. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Canadian Imperial Bank of Commerce currently has an average rating of “Moderate Buy” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Company 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.