PDS Planning Inc Acquires 189 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

PDS Planning Inc lifted its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,167 shares of the bank’s stock after purchasing an additional 189 shares during the period. PDS Planning Inc’s holdings in Canadian Imperial Bank of Commerce were worth $327,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in Canadian Imperial Bank of Commerce by 1.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,757,382 shares of the bank’s stock valued at $679,613,000 after buying an additional 115,884 shares during the period. JPMorgan Chase & Co. boosted its position 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 buying an additional 334,545 shares during the period. Geode Capital Management LLC boosted its position 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 buying an additional 336,854 shares during the period. Public Sector Pension Investment Board boosted its position 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 valued at $228,043,000 after buying an additional 900,575 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Canadian Imperial Bank of Commerce by 23.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,187,106 shares of the bank’s stock valued at $195,561,000 after buying an additional 601,234 shares during the period. Institutional investors own 49.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CM. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday, February 14th. Royal Bank of Canada raised shares of 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 research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Trading Down 0.7 %

NYSE:CM opened at $56.76 on Wednesday. The company has a 50-day moving average price of $60.87 and a 200-day moving average price of $62.19. Canadian Imperial Bank of Commerce has a 12 month low of $46.50 and a 12 month high of $67.45. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a market cap of $53.36 billion, a price-to-earnings ratio of 10.61, a P/E/G ratio of 1.62 and a beta of 1.07.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be given a dividend of $0.6723 per share. The ex-dividend date is Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a yield of 4.74%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 48.03%.

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.