Capital International Inc. CA Raises Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Capital International Inc. CA raised its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 143.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 114,822 shares of the bank’s stock after buying an additional 67,571 shares during the quarter. Capital International Inc. CA’s holdings in Canadian Imperial Bank of Commerce were worth $7,261,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CM. Norges Bank acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $570,477,000. Capital International Investors acquired a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $424,386,000. FIL Ltd raised its holdings in Canadian Imperial Bank of Commerce by 53.6% in the 4th quarter. FIL Ltd now owns 12,387,607 shares of the bank’s stock valued at $783,613,000 after acquiring an additional 4,321,451 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Canadian Imperial Bank of Commerce by 37.3% during the 4th quarter. JPMorgan Chase & Co. now owns 8,043,106 shares of the bank’s stock worth $508,566,000 after purchasing an additional 2,185,262 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Canadian Imperial Bank of Commerce by 31.3% in the fourth quarter. Geode Capital Management LLC now owns 5,573,202 shares of the bank’s stock valued at $357,480,000 after purchasing an additional 1,327,967 shares during the period. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

CM opened at $58.94 on Friday. The company has a 50 day moving average of $58.14 and a two-hundred day moving average of $61.55. 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 quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The company has a market cap of $55.41 billion, a P/E ratio of 11.02, 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 will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be given a $0.6723 dividend. This represents a $2.69 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 48.03%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CM. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Monday, April 14th. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.