Canadian Imperial Bank of Commerce (NYSE:CM) Shares Bought by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC lifted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 216,786 shares of the bank’s stock after purchasing an additional 4,269 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Canadian Imperial Bank of Commerce were worth $13,698,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Crews Bank & Trust acquired a new position in Canadian Imperial Bank of Commerce in the 4th quarter worth $25,000. SBI Securities Co. Ltd. purchased a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth about $30,000. Sandy Spring Bank acquired a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth about $32,000. IFP Advisors Inc boosted its holdings in Canadian Imperial Bank of Commerce by 318.1% in the fourth 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. Finally, Lee Danner & Bass Inc. acquired a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at approximately $44,000. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE CM opened at $56.16 on Monday. 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 $46.50 and a twelve month high of $67.45. The business has a 50 day simple moving average of $60.03 and a 200-day simple moving average of $62.06. The company has a market capitalization of $52.79 billion, a price-to-earnings ratio of 10.50, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be given a dividend of $0.6723 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.69 annualized dividend and a dividend yield of 4.79%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 48.03%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CM. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $92.00.

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.