BNP Paribas Financial Markets Buys New Position in Canadian Imperial Bank of Commerce (NYSE:CM)

BNP Paribas Financial Markets purchased a new position in Canadian Imperial Bank of Commerce (NYSE:CMFree Report) (TSE:CM) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 716 shares of the bank’s stock, valued at approximately $44,000.

Other large investors also recently bought and sold shares of the company. Lantz Financial LLC grew its holdings in Canadian Imperial Bank of Commerce by 7.1% during the 2nd quarter. Lantz Financial LLC now owns 5,824 shares of the bank’s stock valued at $277,000 after purchasing an additional 385 shares in the last quarter. Raymond James Trust N.A. grew its stake in shares of Canadian Imperial Bank of Commerce by 4.5% during the second quarter. Raymond James Trust N.A. now owns 15,212 shares of the bank’s stock valued at $723,000 after acquiring an additional 662 shares in the last quarter. Atomi Financial Group Inc. increased its position in shares of Canadian Imperial Bank of Commerce by 21.7% during the second quarter. Atomi Financial Group Inc. now owns 5,561 shares of the bank’s stock worth $264,000 after acquiring an additional 992 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Canadian Imperial Bank of Commerce in the second quarter worth about $51,000. Finally, Ridgewood Investments LLC purchased a new position in Canadian Imperial Bank of Commerce in the second quarter valued at about $29,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

Analyst Ratings Changes

CM has been the topic of a number of recent analyst reports. BMO Capital Markets upped their target price on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday, December 6th. Cormark raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $97.00 target price (up previously from $74.00) on shares of Canadian Imperial Bank of Commerce in a research note on Friday, December 6th. Finally, Bank of America raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average price target of $89.00.

View Our Latest Stock Report on CM

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM opened at $63.78 on Friday. The company has a market cap of $60.25 billion, a PE ratio of 11.92, a P/E/G ratio of 1.78 and a beta of 1.06. Canadian Imperial Bank of Commerce has a fifty-two week low of $43.86 and a fifty-two week high of $67.45. The firm has a 50-day simple moving average of $64.09 and a 200 day simple moving average of $57.13. 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 announced a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.6912 per share. The ex-dividend date is Friday, December 27th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. This represents a $2.76 annualized dividend and a dividend yield of 4.33%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 53.46%.

Canadian Imperial Bank of Commerce Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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