XTX Topco Ltd Makes New Investment in Canadian Imperial Bank of Commerce (NYSE:CM)

XTX Topco Ltd purchased a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 6,995 shares of the bank’s stock, valued at approximately $442,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mariner LLC raised its holdings in Canadian Imperial Bank of Commerce by 3.8% in the 4th quarter. Mariner LLC now owns 34,588 shares of the bank’s stock valued at $2,187,000 after buying an additional 1,272 shares during the period. Barclays PLC boosted its position in shares of Canadian Imperial Bank of Commerce by 106.4% during the 4th quarter. Barclays PLC now owns 49,885 shares of the bank’s stock worth $3,154,000 after purchasing an additional 25,712 shares during the period. BTG Pactual Asset Management US LLC acquired a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at approximately $1,271,000. Townsquare Capital LLC purchased a new stake in Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $238,000. Finally, Scotia Capital Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 0.5% during the fourth quarter. Scotia Capital Inc. now owns 4,364,540 shares of the bank’s stock worth $275,414,000 after buying an additional 23,315 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.

Analyst Ratings Changes

Several research firms 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 increased their target price for the stock from $97.00 to $103.00 in a research note on Wednesday, January 8th. StockNews.com downgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Jefferies Financial Group cut shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Monday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Stock Down 0.8 %

Shares of NYSE:CM opened at $58.47 on Tuesday. 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 has a fifty-two week low of $46.50 and a fifty-two week high of $67.45. The stock has a market cap of $54.97 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. The firm’s 50 day moving average price is $58.08 and its 200 day moving average price is $61.55.

Canadian Imperial Bank of Commerce Cuts Dividend

The company 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 dividend of $0.6723 per share. The ex-dividend date is Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.60%. Canadian Imperial Bank of Commerce’s payout ratio is currently 48.03%.

About Canadian Imperial Bank of Commerce

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.