Five Oceans Advisors Boosts Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Five Oceans Advisors boosted its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 8.2% in the 4th quarter, HoldingsChannel reports. The fund owned 4,560 shares of the bank’s stock after acquiring an additional 344 shares during the quarter. Five Oceans Advisors’ holdings in Canadian Imperial Bank of Commerce were worth $288,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Crews Bank & Trust acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth approximately $25,000. BNP Paribas Financial Markets acquired a new stake in Canadian Imperial Bank of Commerce in the third quarter valued at $44,000. Versant Capital Management Inc increased its position in shares of Canadian Imperial Bank of Commerce by 1,069.4% in the fourth quarter. Versant Capital Management Inc now owns 725 shares of the bank’s stock valued at $46,000 after buying an additional 663 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 571.6% during the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock worth $45,000 after buying an additional 623 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in Canadian Imperial Bank of Commerce by 23.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock valued at $56,000 after acquiring an additional 171 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on CM. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Thursday, January 23rd. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $92.00.

Canadian Imperial Bank of Commerce Stock Down 1.2 %

CM stock opened at $63.07 on Friday. The stock has a market capitalization of $59.43 billion, a P/E ratio of 11.79, a PEG ratio of 1.70 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. Canadian Imperial Bank of Commerce has a one year low of $43.86 and a one year high of $67.45. The company has a 50 day moving average price of $64.05 and a two-hundred day moving average price of $60.32.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th were issued a $0.6912 dividend. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date was Friday, December 27th. This represents a $2.76 annualized dividend and a yield of 4.38%. Canadian Imperial Bank of Commerce’s payout ratio is 51.22%.

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.