Addenda Capital Inc. boosted its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 16.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,670 shares of the bank’s stock after purchasing an additional 6,210 shares during the quarter. Addenda Capital Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $4,316,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CM. Northwestern Mutual Wealth Management Co. lifted its stake in Canadian Imperial Bank of Commerce by 55.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the bank’s stock worth $120,000 after purchasing an additional 526 shares in the last quarter. Quantum Capital Management LLC NJ purchased a new stake in Canadian Imperial Bank of Commerce in the 3rd quarter worth $134,000. Nationwide Fund Advisors purchased a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter worth $138,000. D.A. Davidson & CO. purchased a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter worth $162,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in Canadian Imperial Bank of Commerce in the 3rd quarter worth $201,000. Institutional investors and hedge funds own 44.37% of the company’s stock.

Shares of Canadian Imperial Bank of Commerce (CM) opened at $98.62 on Friday. Canadian Imperial Bank of Commerce has a fifty-two week low of $77.20 and a fifty-two week high of $100.01. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.11. The firm has a market cap of $43,146.57, a PE ratio of 11.45, a PEG ratio of 4.85 and a beta of 1.12.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Thursday, December 28th will be issued a $1.011 dividend. The ex-dividend date is Wednesday, December 27th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 4.10%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 46.92%.

A number of analysts have recently weighed in on CM shares. Canaccord Genuity restated a “buy” rating and issued a $121.00 target price on shares of Canadian Imperial Bank of Commerce in a report on Thursday, November 30th. Zacks Investment Research upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday, December 4th. Scotiabank restated a “hold” rating and issued a $128.00 target price on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, November 22nd. Citigroup downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and set a $120.00 target price on the stock. in a report on Wednesday, October 25th. Finally, Credit Suisse Group upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $116.00 to $125.00 in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $114.00.

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Canadian Imperial Bank of Commerce Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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