Deutsche Bank AG Increases Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Deutsche Bank AG increased its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,491,933 shares of the bank’s stock after buying an additional 119,573 shares during the period. Deutsche Bank AG’s holdings in Canadian Imperial Bank of Commerce were worth $220,795,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC increased its position in shares of Canadian Imperial Bank of Commerce by 20.4% in the fourth quarter. Cubist Systematic Strategies LLC now owns 51,311 shares of the bank’s stock valued at $3,244,000 after buying an additional 8,700 shares in the last quarter. Baird Financial Group Inc. increased its holdings in Canadian Imperial Bank of Commerce by 13.8% during the 4th quarter. Baird Financial Group Inc. now owns 30,332 shares of the bank’s stock valued at $1,918,000 after acquiring an additional 3,682 shares in the last quarter. Ameriprise Financial Inc. raised its position in Canadian Imperial Bank of Commerce by 2.3% during the fourth quarter. Ameriprise Financial Inc. now owns 29,735 shares of the bank’s stock worth $1,880,000 after acquiring an additional 663 shares during the last quarter. Algert Global LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 5.3% in the fourth quarter. Algert Global LLC now owns 23,577 shares of the bank’s stock valued at $1,490,000 after purchasing an additional 1,193 shares in the last quarter. Finally, AXA S.A. grew its position in shares of Canadian Imperial Bank of Commerce by 36.4% in the fourth quarter. AXA S.A. now owns 408,593 shares of the bank’s stock valued at $25,835,000 after purchasing an additional 109,119 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Performance

NYSE CM opened at $63.55 on Friday. The business’s 50-day moving average price is $58.53 and its 200 day moving average price is $61.66. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a twelve month low of $46.99 and a twelve month high of $67.45. The company has a market capitalization of $59.75 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 1.62 and a beta of 1.06.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, March 28th were given a $0.6723 dividend. The ex-dividend date was Friday, March 28th. This represents a $2.69 annualized dividend and a dividend yield of 4.23%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 48.03%.

Analyst Ratings Changes

A number of research firms recently issued reports on CM. Jefferies Financial Group lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Monday, April 21st. StockNews.com cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Wednesday, April 30th. One 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, the company has a consensus rating of “Hold” 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.