3,664 Shares in Canadian Imperial Bank of Commerce (NYSE:CM) Acquired by State Street Corp

State Street Corp purchased a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,664 shares of the bank’s stock, valued at approximately $227,000.

Several other institutional investors have also modified their holdings of the business. BNP Paribas Financial Markets acquired a new stake in Canadian Imperial Bank of Commerce in the third quarter valued at approximately $44,000. Blue Trust Inc. lifted its position 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 purchasing an additional 623 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Canadian Imperial Bank of Commerce by 23.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock worth $56,000 after purchasing an additional 171 shares in the last quarter. City State Bank purchased a new position in Canadian Imperial Bank of Commerce in the third quarter valued at $61,000. Finally, Ninepoint Partners LP acquired a new stake in Canadian Imperial Bank of Commerce in the second quarter valued at $97,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Down 0.1 %

Shares of CM stock opened at $62.70 on Friday. The business’s fifty day moving average price is $64.41 and its 200 day moving average price is $58.16. 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 firm has a market capitalization of $59.23 billion, a PE ratio of 11.72, a P/E/G ratio of 1.78 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 1-year low of $43.86 and a 1-year high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be issued a $0.6912 dividend. The ex-dividend date of this dividend is Friday, December 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. This represents a $2.76 dividend on an annualized basis and a yield of 4.41%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 53.46%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CM. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday, December 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $97.00 price objective (up previously from $74.00) on shares of Canadian Imperial Bank of Commerce in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $89.00.

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.