Checchi Capital Advisers LLC Has $262,000 Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Checchi Capital Advisers LLC boosted its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 16.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,149 shares of the bank’s stock after purchasing an additional 576 shares during the period. Checchi Capital Advisers LLC’s holdings in Canadian Imperial Bank of Commerce were worth $262,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crews Bank & Trust acquired a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $25,000. IFP Advisors Inc lifted 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 valued at $34,000 after purchasing an additional 404 shares during the last quarter. BNP Paribas Financial Markets bought a new position in Canadian Imperial Bank of Commerce during the third quarter worth $44,000. Versant Capital Management Inc increased its holdings 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 purchasing an additional 663 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Canadian Imperial Bank of Commerce by 571.6% in the third quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock valued at $45,000 after purchasing an additional 623 shares during the period. Institutional investors own 49.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented 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 lifted their target price for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Stock Performance

NYSE CM opened at $59.90 on Friday. Canadian Imperial Bank of Commerce has a 12-month low of $46.11 and a 12-month high of $67.45. The firm has a 50-day moving average price of $62.56 and a two-hundred day moving average price of $61.77. The company has a market capitalization of $56.45 billion, a P/E ratio of 11.20, a P/E/G ratio of 1.62 and a beta of 1.05. 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 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 27th were given a dividend of $0.6912 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.76 dividend on an annualized basis and a yield of 4.62%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 51.21%.

Canadian Imperial Bank of Commerce 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.