Wealth Enhancement Advisory Services LLC Grows Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Wealth Enhancement Advisory Services LLC grew its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 4.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,161 shares of the bank’s stock after acquiring an additional 194 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Canadian Imperial Bank of Commerce were worth $255,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc grew its holdings in shares of Canadian Imperial Bank of Commerce by 1,069.4% during the fourth quarter. Versant Capital Management Inc now owns 725 shares of the bank’s stock valued at $46,000 after buying an additional 663 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Canadian Imperial Bank of Commerce by 6.1% in 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. Franklin Resources Inc. boosted its stake in Canadian Imperial Bank of Commerce by 4.4% during the 3rd quarter. Franklin Resources Inc. now owns 880,838 shares of the bank’s stock valued at $54,606,000 after purchasing an additional 37,419 shares during the last quarter. Hobbs Group Advisors LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 675.8% in the 3rd quarter. Hobbs Group Advisors LLC now owns 2,211 shares of the bank’s stock worth $136,000 after purchasing an additional 1,926 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Canadian Imperial Bank of Commerce by 8.6% in the third quarter. Geode Capital Management LLC now owns 4,245,235 shares of the bank’s stock worth $262,598,000 after purchasing an additional 336,854 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Stock Down 0.2 %

Canadian Imperial Bank of Commerce stock opened at $62.61 on Friday. The stock has a market cap of $59.00 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.64 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a fifty day moving average of $64.25 and a 200 day moving average of $59.18. Canadian Imperial Bank of Commerce has a one year low of $43.86 and a one year high of $67.45.

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 paid a $0.6912 dividend. This represents a $2.76 annualized dividend and a dividend yield of 4.42%. 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. Canadian Imperial Bank of Commerce’s dividend payout ratio is 51.21%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CM shares. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. StockNews.com lowered shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce 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.