234,900 Shares in Canadian Imperial Bank of Commerce (NYSE:CM) Bought by Quadrature Capital Ltd

Quadrature Capital Ltd bought a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 234,900 shares of the bank’s stock, valued at approximately $11,328,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CM. Vanguard Group Inc. grew its position in Canadian Imperial Bank of Commerce by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 35,237,455 shares of the bank’s stock valued at $1,696,331,000 after purchasing an additional 1,395,600 shares in the last quarter. Toronto Dominion Bank boosted its holdings in shares of Canadian Imperial Bank of Commerce by 1.8% during the 3rd quarter. Toronto Dominion Bank now owns 26,965,878 shares of the bank’s stock valued at $1,041,153,000 after buying an additional 476,342 shares in the last quarter. Bank of Nova Scotia increased its holdings in Canadian Imperial Bank of Commerce by 8.1% in the 4th quarter. Bank of Nova Scotia now owns 24,915,095 shares of the bank’s stock worth $1,199,627,000 after acquiring an additional 1,872,709 shares in the last quarter. TD Asset Management Inc lifted its position in Canadian Imperial Bank of Commerce by 13.8% in the fourth quarter. TD Asset Management Inc now owns 22,550,346 shares of the bank’s stock worth $1,091,089,000 after buying an additional 2,730,076 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in Canadian Imperial Bank of Commerce by 12.8% in the fourth quarter. CIBC Asset Management Inc now owns 11,601,044 shares of the bank’s stock valued at $560,365,000 after purchasing an additional 1,313,996 shares during the last quarter. Institutional investors own 49.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CM shares. BMO Capital Markets lifted their target price on Canadian Imperial Bank of Commerce from $74.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Barclays began coverage on Canadian Imperial Bank of Commerce in a report on Wednesday, March 20th. They set an “underweight” rating for the company. Scotiabank raised Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a research report on Tuesday, February 20th. Keefe, Bruyette & Woods upgraded shares of Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a research report on Monday, June 3rd. Finally, Jefferies Financial Group began coverage on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, February 22nd. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $67.00.

Canadian Imperial Bank of Commerce Stock Down 0.1 %

CM opened at $47.48 on Tuesday. The firm’s fifty day moving average price is $48.39 and its two-hundred day moving average price is $47.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $44.78 billion, a P/E ratio of 9.77, a P/E/G ratio of 1.87 and a beta of 1.06. Canadian Imperial Bank of Commerce has a fifty-two week low of $34.35 and a fifty-two week high of $51.14.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be issued a dividend of $0.653 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.61 dividend on an annualized basis and a yield of 5.50%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 54.53%.

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.