Canadian Imperial Bank of Commerce (NYSE:CM) Shares Bought by American Century Companies Inc.

American Century Companies Inc. increased its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 8.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 299,211 shares of the bank’s stock after acquiring an additional 23,403 shares during the quarter. American Century Companies Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $18,927,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. FMR LLC lifted its position in Canadian Imperial Bank of Commerce by 3.3% in the 3rd quarter. FMR LLC now owns 2,106,913 shares of the bank’s stock worth $129,239,000 after buying an additional 67,480 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Canadian Imperial Bank of Commerce by 6.1% during the third quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank’s stock worth $359,320,000 after acquiring an additional 334,545 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Canadian Imperial Bank of Commerce during the third quarter valued at $10,045,000. Rhumbline Advisers grew its stake in Canadian Imperial Bank of Commerce by 12.6% in the fourth quarter. Rhumbline Advisers now owns 3,622 shares of the bank’s stock valued at $229,000 after purchasing an additional 404 shares in the last quarter. Finally, Bridgewater Associates LP acquired a new position in Canadian Imperial Bank of Commerce in the 3rd quarter worth about $601,000. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

NYSE:CM opened at $56.16 on Monday. The company has a market capitalization of $52.79 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 1.62 and a beta of 1.07. The company has a 50-day moving average of $60.03 and a 200-day moving average of $62.06. Canadian Imperial Bank of Commerce has a 52 week low of $46.50 and a 52 week high of $67.45. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.6723 per share. This represents a $2.69 dividend on an annualized basis and a yield of 4.79%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s payout ratio is 48.03%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $92.00.

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.