Versant Capital Management Inc Purchases 663 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Versant Capital Management Inc grew its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1,069.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 725 shares of the bank’s stock after acquiring an additional 663 shares during the period. Versant Capital Management Inc’s holdings in Canadian Imperial Bank of Commerce were worth $46,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Toronto Dominion Bank raised its position in Canadian Imperial Bank of Commerce by 17.9% in the 2nd quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank’s stock worth $1,233,272,000 after purchasing an additional 3,942,894 shares during the last quarter. Cibc World Market Inc. increased its position in Canadian Imperial Bank of Commerce by 18.9% in the second quarter. Cibc World Market Inc. now owns 19,748,305 shares of the bank’s stock worth $938,834,000 after purchasing an additional 3,143,734 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Canadian Imperial Bank of Commerce by 61.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,030,130 shares of the bank’s stock worth $334,321,000 after purchasing an additional 2,681,428 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in Canadian Imperial Bank of Commerce by 14.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,641,498 shares of the bank’s stock valued at $652,676,000 after purchasing an additional 1,305,665 shares during the period. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at about $62,849,000. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Trading Up 0.7 %

Shares of NYSE CM opened at $63.17 on Tuesday. 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 has a twelve month low of $43.86 and a twelve month high of $67.45. The company’s fifty day moving average is $64.40 and its 200-day moving average is $58.53. The stock has a market cap of $59.53 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 1.78 and a beta of 1.06.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed 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. This represents a $2.76 annualized dividend and a dividend yield of 4.38%. The ex-dividend date is Friday, December 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. Canadian Imperial Bank of Commerce’s payout ratio is 53.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Monday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $97.00 price objective (up from $74.00) on shares of Canadian Imperial Bank of Commerce in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $89.00.

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.