Jones Financial Companies Lllp Makes New Investment in Canadian Imperial Bank of Commerce (NYSE:CM)

Jones Financial Companies Lllp purchased a new stake in shares of Canadian Imperial Bank of Commerce (NYSE:CMFree Report) (TSE:CM) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,232 shares of the bank’s stock, valued at approximately $107,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CM. Quantbot Technologies LP bought a new stake in Canadian Imperial Bank of Commerce in the third quarter worth $628,000. J.P. Morgan Private Wealth Advisors LLC lifted its position in Canadian Imperial Bank of Commerce by 13.5% during the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 33,128 shares of the bank’s stock worth $1,279,000 after acquiring an additional 3,935 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Canadian Imperial Bank of Commerce by 44.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 6,900 shares of the bank’s stock worth $266,000 after purchasing an additional 2,131 shares during the last quarter. Sowell Financial Services LLC purchased a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter valued at approximately $585,000. Finally, Janney Montgomery Scott LLC grew its holdings in Canadian Imperial Bank of Commerce by 1.3% in the third quarter. Janney Montgomery Scott LLC now owns 74,015 shares of the bank’s stock valued at $2,857,000 after purchasing an additional 917 shares during the period. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. BMO Capital Markets boosted their price objective on Canadian Imperial Bank of Commerce from $74.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, May 31st. Jefferies Financial Group started coverage on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, February 22nd. They issued a “buy” rating for the company. Scotiabank raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a report on Tuesday, February 20th. Barclays initiated coverage on Canadian Imperial Bank of Commerce in a research note on Wednesday, March 20th. They set an “underweight” rating for the company. Finally, Keefe, Bruyette & Woods raised Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a report on Monday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $67.00.

Get Our Latest Analysis on CM

Canadian Imperial Bank of Commerce Trading Down 0.4 %

Shares of CM stock opened at $49.30 on Thursday. The firm has a market cap of $46.49 billion, a P/E ratio of 10.14, a PEG ratio of 1.98 and a beta of 1.06. The firm’s 50-day simple moving average is $48.67 and its 200-day simple moving average is $46.93. Canadian Imperial Bank of Commerce has a 1-year low of $34.35 and a 1-year high of $51.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.06 and a quick ratio of 1.06.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be issued a $0.653 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.61 annualized dividend and a yield of 5.30%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 54.53%.

Canadian Imperial Bank of Commerce Profile

(Free Report)

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.

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

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