Van ECK Associates Corp Has $1.23 Million Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Van ECK Associates Corp lifted its holdings in Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) by 13.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,180 shares of the bank’s stock after acquiring an additional 3,406 shares during the quarter. Van ECK Associates Corp’s holdings in Canadian Imperial Bank of Commerce were worth $1,232,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in Canadian Imperial Bank of Commerce by 50.2% during the third quarter. Assenagon Asset Management S.A. now owns 61,531 shares of the bank’s stock worth $2,708,000 after buying an additional 20,556 shares during the last quarter. Veriti Management LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 19.5% during the 3rd quarter. Veriti Management LLC now owns 9,873 shares of the bank’s stock valued at $432,000 after purchasing an additional 1,608 shares in the last quarter. Strs Ohio bought a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter valued at about $6,204,000. Mirabella Financial Services LLP lifted its holdings in shares of Canadian Imperial Bank of Commerce by 10.9% during the 3rd quarter. Mirabella Financial Services LLP now owns 5,719 shares of the bank’s stock valued at $253,000 after purchasing an additional 562 shares in the last quarter. Finally, Wipfli Financial Advisors LLC bought a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter valued at about $952,000. Institutional investors and hedge funds own 44.40% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at $43.67 on Monday. The company has a 50 day simple moving average of $43.86 and a 200 day simple moving average of $46.14. The stock has a market cap of $39.58 billion, a price-to-earnings ratio of 8.33, a P/E/G ratio of 2.83 and a beta of 1.01. Canadian Imperial Bank of Commerce has a 1 year low of $39.40 and a 1 year high of $66.24. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.04 and a quick ratio of 1.04.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 27th. Shareholders of record on Wednesday, December 28th will be issued a dividend of $0.627 per share. This represents a $2.51 dividend on an annualized basis and a yield of 5.74%. The ex-dividend date of this dividend is Tuesday, December 27th. Canadian Imperial Bank of Commerce’s payout ratio is 48.28%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Credit Suisse Group cut Canadian Imperial Bank of Commerce from an “outperform” rating to a “neutral” rating in a report on Friday, December 9th. National Bank Financial cut Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a report on Thursday, December 1st. TD Securities cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and cut their target price for the company from C$74.00 to C$65.00 in a research note on Tuesday, November 15th. CIBC upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and cut their target price for the company from C$67.00 to C$61.00 in a research note on Tuesday, December 20th. Finally, Bank of America cut Canadian Imperial Bank of Commerce from a “neutral” rating to an “underperform” rating in a research note on Monday, December 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and an average price target of $79.77.

Canadian Imperial Bank of Commerce Profile

(Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.