Versor Investments LP Has $1.26 Million Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Versor Investments LP lifted its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 227.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,856 shares of the bank’s stock after buying an additional 13,801 shares during the period. Versor Investments LP’s holdings in Canadian Imperial Bank of Commerce were worth $1,255,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Canadian Imperial Bank of Commerce by 14.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,641,498 shares of the bank’s stock valued at $652,676,000 after purchasing an additional 1,305,665 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Canadian Imperial Bank of Commerce in the 3rd quarter valued at about $62,849,000. Public Sector Pension Investment Board lifted its stake in Canadian Imperial Bank of Commerce by 32.0% in 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. Alberta Investment Management Corp lifted its stake in Canadian Imperial Bank of Commerce by 74.4% in the 4th quarter. Alberta Investment Management Corp now owns 1,572,963 shares of the bank’s stock valued at $99,450,000 after purchasing an additional 671,028 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Canadian Imperial Bank of Commerce by 23.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,187,106 shares of the bank’s stock valued at $195,561,000 after purchasing an additional 601,234 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Canadian Imperial Bank of Commerce Trading Down 0.9 %

Shares of CM stock opened at $59.90 on Friday. The firm has a 50 day moving average price of $62.56 and a two-hundred day moving average price of $61.77. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $56.45 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 1.62 and a beta of 1.05. Canadian Imperial Bank of Commerce has a 12-month low of $46.11 and a 12-month high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th were given a dividend of $0.6912 per share. The ex-dividend date of this dividend was Friday, December 27th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. This represents a $2.76 annualized dividend and a yield of 4.62%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 51.21%.

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.