Intech Investment Management LLC Buys 19,260 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Intech Investment Management LLC raised its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 13.0% during the 4th quarter, Holdings Channel reports. The fund owned 167,849 shares of the bank’s stock after purchasing an additional 19,260 shares during the period. Intech Investment Management LLC’s holdings in Canadian Imperial Bank of Commerce were worth $10,612,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Public Sector Pension Investment Board boosted its position in Canadian Imperial Bank of Commerce by 32.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank’s stock valued at $228,043,000 after acquiring an additional 900,575 shares in the last quarter. FMR LLC boosted its position in Canadian Imperial Bank of Commerce by 3.3% during the 3rd quarter. FMR LLC now owns 2,106,913 shares of the bank’s stock valued at $129,239,000 after acquiring an additional 67,480 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Canadian Imperial Bank of Commerce by 6.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank’s stock valued at $359,320,000 after acquiring an additional 334,545 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 3rd quarter worth $10,045,000. Finally, Bridgewater Associates LP acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 3rd quarter worth $601,000. Institutional investors own 49.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CM. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday, February 14th. Royal Bank of Canada raised 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 research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and an average price target of $92.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM stock opened at $57.19 on Tuesday. The firm has a market capitalization of $53.75 billion, a price-to-earnings ratio of 10.69, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The business has a fifty day moving average of $60.99 and a 200 day moving average of $62.20. Canadian Imperial Bank of Commerce has a 1 year low of $46.50 and a 1 year high of $67.45.

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 $0.6723 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a yield of 4.70%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 48.03%.

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.