Stratos Wealth Partners LTD. Purchases Shares of 4,193 Canadian Imperial Bank of Commerce (NYSE:CM)

Stratos Wealth Partners LTD. acquired a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,193 shares of the bank’s stock, valued at approximately $265,000.

A number of other hedge funds have also recently made changes to their positions in the business. CIBC Asset Management Inc raised its stake in shares of Canadian Imperial Bank of Commerce by 3.4% in the third quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank’s stock worth $696,659,000 after purchasing an additional 375,837 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Canadian Imperial Bank of Commerce by 14.0% in 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 buying an additional 1,305,665 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Canadian Imperial Bank of Commerce by 6.1% during 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. Geode Capital Management LLC lifted its stake in Canadian Imperial Bank of Commerce by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,245,235 shares of the bank’s stock valued at $262,598,000 after acquiring an additional 336,854 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in Canadian Imperial Bank of Commerce by 32.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank’s stock worth $228,043,000 after acquiring an additional 900,575 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Canadian Imperial Bank of Commerce Stock Up 0.5 %

Shares of NYSE CM opened at $62.03 on Friday. The business has a 50-day moving average of $63.58 and a 200-day moving average of $61.01. The firm has a market capitalization of $58.45 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 1.64 and a beta of 1.05. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a 12 month low of $44.66 and a 12 month high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th were given a dividend of $0.6912 per share. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date was Friday, December 27th. This represents a $2.76 dividend on an annualized basis and a yield of 4.46%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 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.