Ossiam Grows Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Ossiam boosted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,650 shares of the bank’s stock after purchasing an additional 817 shares during the quarter. Ossiam’s holdings in Canadian Imperial Bank of Commerce were worth $2,230,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CM. Vestmark Advisory Solutions Inc. purchased a new position in shares of Canadian Imperial Bank of Commerce in the 1st quarter valued at $288,000. LPL Financial LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 36.9% in the 1st quarter. LPL Financial LLC now owns 437,345 shares of the bank’s stock valued at $18,552,000 after acquiring an additional 117,841 shares during the period. Franklin Resources Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 3.3% in the 1st quarter. Franklin Resources Inc. now owns 1,440,184 shares of the bank’s stock valued at $61,067,000 after acquiring an additional 45,670 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 626.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 73,061 shares of the bank’s stock valued at $3,099,000 after acquiring an additional 63,004 shares during the period. Finally, Scheer Rowlett & Associates Investment Management Ltd. increased its holdings in shares of Canadian Imperial Bank of Commerce by 8.0% in the 1st quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 1,447,671 shares of the bank’s stock valued at $61,385,000 after acquiring an additional 107,651 shares during the period. 43.72% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Stock Down 0.3 %

Canadian Imperial Bank of Commerce stock opened at $38.97 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.06 and a current ratio of 1.05. The business’s 50-day simple moving average is $41.66 and its two-hundred day simple moving average is $42.23. The company has a market cap of $36.01 billion, a PE ratio of 10.62, a PEG ratio of 2.62 and a beta of 1.02. Canadian Imperial Bank of Commerce has a fifty-two week low of $38.88 and a fifty-two week high of $49.95.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Thursday, September 28th will be paid a dividend of $0.657 per share. This represents a $2.63 annualized dividend and a yield of 6.74%. The ex-dividend date is Wednesday, September 27th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.64. Canadian Imperial Bank of Commerce’s payout ratio is presently 70.03%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CM. Royal Bank of Canada cut their price target on Canadian Imperial Bank of Commerce from $72.00 to $67.00 and set a “sector perform” rating on the stock in a report on Friday, September 1st. StockNews.com initiated coverage on Canadian Imperial Bank of Commerce in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Barclays lowered their price objective on Canadian Imperial Bank of Commerce from $58.00 to $57.00 and set an “equal weight” rating for the company in a research report on Friday, September 1st. Finally, BMO Capital Markets lowered their price objective on Canadian Imperial Bank of Commerce from $69.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and a consensus target price of $63.00.

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.