Mission Wealth Management LP Acquires New Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Mission Wealth Management LP acquired a new stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 5,100 shares of the bank’s stock, valued at approximately $322,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Crews Bank & Trust acquired a new stake in Canadian Imperial Bank of Commerce in the fourth quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new stake in Canadian Imperial Bank of Commerce in the fourth quarter worth about $30,000. IFP Advisors Inc boosted its holdings in 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 in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Canadian Imperial Bank of Commerce during the third quarter worth about $44,000. Finally, Versant Capital Management Inc lifted 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 period. Institutional investors own 49.88% of the company’s stock.

Analyst Upgrades and Downgrades

CM has been the subject of a number of research reports. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Stock Up 1.4 %

Shares of CM stock opened at $58.19 on Thursday. 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 twelve month low of $46.50 and a twelve month high of $67.45. The stock has a market cap of $54.84 billion, a P/E ratio of 10.88, a P/E/G ratio of 1.62 and a beta of 1.07. The stock has a 50 day moving average of $62.13 and a 200 day moving average of $62.06.

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 paid a dividend of $0.6723 per share. This represents a $2.69 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) 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.