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

Natixis increased its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1,950.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,054 shares of the bank’s stock after buying an additional 6,710 shares during the quarter. Natixis’ holdings in Canadian Imperial Bank of Commerce were worth $446,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of CM. Vanguard Group Inc. boosted its position in Canadian Imperial Bank of Commerce by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 39,385,238 shares of the bank’s stock valued at $2,491,431,000 after buying an additional 749,843 shares during the last quarter. TD Asset Management Inc. boosted its holdings in Canadian Imperial Bank of Commerce by 3.7% in the fourth quarter. TD Asset Management Inc. now owns 23,600,495 shares of the bank’s stock valued at $1,492,138,000 after purchasing an additional 851,164 shares during the last quarter. FIL Ltd grew its stake in Canadian Imperial Bank of Commerce by 53.6% during the 4th quarter. FIL Ltd now owns 12,387,607 shares of the bank’s stock valued at $783,613,000 after purchasing an additional 4,321,451 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Canadian Imperial Bank of Commerce by 1.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,757,382 shares of the bank’s stock worth $679,613,000 after purchasing an additional 115,884 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at approximately $570,477,000. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM stock opened at $60.36 on Friday. The company has a market cap of $56.74 billion, a P/E ratio of 11.28, a PEG ratio of 1.62 and a beta of 0.98. The business has a 50 day moving average of $57.96 and a two-hundred day moving average of $61.53. 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 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. 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 yield of 4.46%. Canadian Imperial Bank of Commerce’s payout ratio is currently 48.03%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. StockNews.com lowered Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, Jefferies Financial Group downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Monday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target 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.