Sandy Spring Bank Purchases Shares of 500 Canadian Imperial Bank of Commerce (NYSE:CM)

Sandy Spring Bank purchased a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 500 shares of the bank’s stock, valued at approximately $32,000.

A number of other large investors have also recently added to or reduced their stakes in the company. PDS Planning Inc lifted its stake in Canadian Imperial Bank of Commerce by 3.8% in the fourth quarter. PDS Planning Inc now owns 5,167 shares of the bank’s stock valued at $327,000 after acquiring an additional 189 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 4.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank’s stock worth $255,000 after buying an additional 194 shares during the last quarter. Mesirow Financial Investment Management Inc. lifted its stake in shares of Canadian Imperial Bank of Commerce by 0.7% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 33,094 shares of the bank’s stock worth $2,092,000 after buying an additional 222 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 0.5% during the 3rd quarter. MML Investors Services LLC now owns 44,008 shares of the bank’s stock worth $2,699,000 after buying an additional 237 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in shares of Canadian Imperial Bank of Commerce by 27.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,161 shares of the bank’s stock worth $73,000 after buying an additional 250 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock opened at $56.77 on Friday. Canadian Imperial Bank of Commerce has a twelve month low of $46.50 and a twelve month high of $67.45. 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 company has a 50-day simple moving average of $60.51 and a two-hundred day simple moving average of $62.13. The stock has a market capitalization of $53.36 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm 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 $0.6723 dividend. This represents a $2.69 annualized dividend and a yield of 4.74%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 48.03%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. Royal Bank of Canada upgraded 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 note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce 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.