Gold Investment Management Ltd. Purchases 892 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Gold Investment Management Ltd. boosted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 55,117 shares of the bank’s stock after acquiring an additional 892 shares during the quarter. Canadian Imperial Bank of Commerce accounts for 1.5% of Gold Investment Management Ltd.’s portfolio, making the stock its 21st biggest holding. Gold Investment Management Ltd.’s holdings in Canadian Imperial Bank of Commerce were worth $3,486,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Public Sector Pension Investment Board increased its position in shares of Canadian Imperial Bank of Commerce by 32.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank’s stock valued at $228,043,000 after purchasing an additional 900,575 shares during the last quarter. Atlanta Consulting Group Advisors LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce in the third quarter worth $671,000. FMR LLC increased its stake in Canadian Imperial Bank of Commerce by 3.3% in the 3rd quarter. FMR LLC now owns 2,106,913 shares of the bank’s stock worth $129,239,000 after buying an additional 67,480 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Canadian Imperial Bank of Commerce by 6.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank’s stock valued at $359,320,000 after purchasing an additional 334,545 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Canadian Imperial Bank of Commerce during the third quarter valued at approximately $10,045,000. Institutional investors own 49.88% of the company’s stock.

Analyst Upgrades and Downgrades

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

Canadian Imperial Bank of Commerce Trading Up 2.2 %

Shares of CM stock opened at $56.28 on Monday. Canadian Imperial Bank of Commerce has a fifty-two week low of $46.50 and a fifty-two week high of $67.45. The firm has a market capitalization of $52.90 billion, a P/E ratio of 10.52, a PEG ratio of 1.62 and a beta of 1.07. The stock’s fifty day moving average is $61.11 and its two-hundred day moving average is $62.21. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm 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 dividend of $0.6723 per share. The ex-dividend date is Friday, March 28th. This represents a $2.69 annualized dividend and a yield of 4.78%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 48.03%.

Canadian Imperial Bank of Commerce 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.