SBI Securities Co. Ltd. Makes New $30,000 Investment in Canadian Imperial Bank of Commerce (NYSE:CM)

SBI Securities Co. Ltd. acquired a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 481 shares of the bank’s stock, valued at approximately $30,000.

A number of other large investors have also recently made changes to their positions in CM. Crews Bank & Trust purchased a new position in Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $25,000. IFP Advisors Inc increased its stake in shares of Canadian Imperial Bank of Commerce by 318.1% in the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock worth $34,000 after acquiring an additional 404 shares during the period. BNP Paribas Financial Markets acquired a new stake in shares of Canadian Imperial Bank of Commerce in the third quarter worth $44,000. Versant Capital Management Inc raised 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 worth $46,000 after purchasing an additional 663 shares during the last quarter. Finally, First Command Advisory Services Inc. acquired a new position in Canadian Imperial Bank of Commerce during the fourth quarter valued at $63,000. 49.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their target price 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 issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Canadian Imperial Bank of Commerce has an average rating of “Hold” and a consensus target price of $92.00.

Canadian Imperial Bank of Commerce Trading Up 1.1 %

CM stock opened at $55.97 on Thursday. 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 quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The firm has a market cap of $52.74 billion, a P/E ratio of 10.46, a PEG ratio of 1.62 and a beta of 1.07. The company’s 50-day simple moving average is $61.39 and its 200-day simple moving average is $62.14.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm 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 $0.6723 dividend. This represents a $2.69 annualized dividend and a yield of 4.81%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce’s payout ratio is currently 48.03%.

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.