Canadian Imperial Bank of Commerce (NYSE:CM) Shares Bought by Guardian Capital LP

Guardian Capital LP increased its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,179,929 shares of the bank’s stock after buying an additional 15,061 shares during the quarter. Canadian Imperial Bank of Commerce accounts for approximately 2.8% of Guardian Capital LP’s holdings, making the stock its 10th largest holding. Guardian Capital LP owned 0.13% of Canadian Imperial Bank of Commerce worth $74,601,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Crews Bank & Trust acquired a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth about $25,000. Operose Advisors LLC bought a new stake in Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $26,000. SBI Securities Co. Ltd. bought a new stake in Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $30,000. Sandy Spring Bank bought a new position in Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $32,000. Finally, IFP Advisors Inc lifted its stake 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 valued at $34,000 after buying an additional 404 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Jefferies Financial Group lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Monday, April 21st. StockNews.com downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Price Performance

NYSE:CM opened at $62.50 on Wednesday. The stock’s 50-day simple moving average is $57.96 and its 200 day simple moving average is $61.57. 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 debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $58.76 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.62 and a beta of 0.98.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, March 28th were issued a $0.6723 dividend. This represents a $2.69 annualized dividend and a dividend yield of 4.30%. The ex-dividend date was Friday, March 28th. Canadian Imperial Bank of Commerce’s payout ratio is presently 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.