Canadian Imperial Bank of Commerce (NYSE:CM) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 7.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,977 shares of the bank’s stock after purchasing an additional 279 shares during the period. Sequoia Financial Advisors LLC’s holdings in Canadian Imperial Bank of Commerce were worth $251,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Crews Bank & Trust acquired a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth about $30,000. IFP Advisors Inc grew its holdings in Canadian Imperial Bank of Commerce by 318.1% during the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock worth $34,000 after acquiring an additional 404 shares during the period. BNP Paribas Financial Markets acquired a new stake in Canadian Imperial Bank of Commerce during the third quarter worth about $44,000. Finally, Versant Capital Management Inc grew its holdings in Canadian Imperial Bank of Commerce by 1,069.4% during the fourth quarter. Versant Capital Management Inc now owns 725 shares of the bank’s stock worth $46,000 after acquiring an additional 663 shares during the period. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Up 0.0 %

NYSE CM opened at $56.78 on Thursday. The business has a fifty day moving average price of $60.74 and a 200 day moving average price of $62.15. Canadian Imperial Bank of Commerce has a one year low of $46.50 and a one year 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 $53.38 billion, a P/E ratio of 10.61, a P/E/G ratio of 1.62 and a beta of 1.07.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors 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 of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 48.03%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and a consensus target price of $92.00.

Canadian Imperial Bank of Commerce Company 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.