Atomi Financial Group Inc. Raises Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Atomi Financial Group Inc. raised its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 19.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,415 shares of the bank’s stock after buying an additional 1,536 shares during the period. Atomi Financial Group Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $595,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new position in shares of Canadian Imperial Bank of Commerce during the third quarter valued at approximately $44,000. Blue Trust Inc. increased its position in Canadian Imperial Bank of Commerce by 571.6% during the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock valued at $45,000 after purchasing an additional 623 shares during the period. Versant Capital Management Inc raised its holdings in Canadian Imperial Bank of Commerce by 1,069.4% in the 4th quarter. Versant Capital Management Inc now owns 725 shares of the bank’s stock worth $46,000 after purchasing an additional 663 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Canadian Imperial Bank of Commerce by 23.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock worth $56,000 after purchasing an additional 171 shares during the period. Finally, City State Bank bought a new stake in shares of Canadian Imperial Bank of Commerce during the 3rd quarter valued at about $61,000. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM opened at $63.60 on Friday. 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 stock has a market cap of $59.94 billion, a P/E ratio of 11.89, a P/E/G ratio of 1.67 and a beta of 1.06. The business’s 50 day moving average price is $64.15 and its 200-day moving average price is $59.68. 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 announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be issued a $0.6912 dividend. This represents a $2.76 annualized dividend and a yield of 4.35%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Friday, December 27th. Canadian Imperial Bank of Commerce’s payout ratio is 51.22%.

Analysts Set New Price Targets

CM has been the subject of several research analyst reports. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently 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.