Blue Trust Inc. Purchases 966 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Blue Trust Inc. increased its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 132.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,698 shares of the bank’s stock after purchasing an additional 966 shares during the quarter. Blue Trust Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $104,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CM. BNP Paribas Financial Markets bought a new stake in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at $44,000. Versant Capital Management Inc raised its stake in Canadian Imperial Bank of Commerce by 1,069.4% during the 4th quarter. Versant Capital Management Inc now owns 725 shares of the bank’s stock worth $46,000 after buying an additional 663 shares during the period. City State Bank acquired a new stake in Canadian Imperial Bank of Commerce in the 3rd quarter valued at $61,000. MassMutual Private Wealth & Trust FSB raised its holdings in Canadian Imperial Bank of Commerce by 27.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,161 shares of the bank’s stock worth $73,000 after buying an additional 250 shares during the last quarter. Finally, Hobbs Group Advisors LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 675.8% during the third quarter. Hobbs Group Advisors LLC now owns 2,211 shares of the bank’s stock valued at $136,000 after buying an additional 1,926 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock opened at $61.81 on Friday. The stock has a market cap of $58.25 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 1.66 and a beta of 1.05. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The business has a 50-day simple moving average of $63.82 and a 200 day simple moving average of $60.62. Canadian Imperial Bank of Commerce has a 52 week low of $43.86 and a 52 week high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th were given a dividend of $0.6912 per share. The ex-dividend date was Friday, December 27th. This represents a $2.76 annualized dividend and a dividend yield of 4.47%. 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 (DPR) is 51.22%.

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.