Guardian Partners Inc. Takes Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Guardian Partners Inc. purchased a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the fourth quarter, Holdings Channel reports. The firm purchased 337,987 shares of the bank’s stock, valued at approximately $21,341,000. Canadian Imperial Bank of Commerce comprises about 2.2% of Guardian Partners Inc.’s holdings, making the stock its 10th largest position.

A number of other institutional investors have also made changes to their positions in the company. PDS Planning Inc increased its holdings in shares of Canadian Imperial Bank of Commerce by 3.8% in the 4th quarter. PDS Planning Inc now owns 5,167 shares of the bank’s stock valued at $327,000 after acquiring an additional 189 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Canadian Imperial Bank of Commerce by 4.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank’s stock worth $255,000 after buying an additional 194 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its stake in Canadian Imperial Bank of Commerce by 0.7% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 33,094 shares of the bank’s stock worth $2,092,000 after buying an additional 222 shares during the last quarter. MML Investors Services LLC grew its stake in Canadian Imperial Bank of Commerce by 0.5% during the 3rd quarter. MML Investors Services LLC now owns 44,008 shares of the bank’s stock worth $2,699,000 after buying an additional 237 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its stake in Canadian Imperial Bank of Commerce by 27.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,161 shares of the bank’s stock worth $73,000 after buying an additional 250 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CM has been the subject of a number of recent research reports. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $97.00 to $103.00 in a research note on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce currently has an average rating of “Moderate Buy” and a consensus target price of $92.00.

Canadian Imperial Bank of Commerce Trading Up 0.2 %

NYSE:CM opened at $56.77 on Friday. Canadian Imperial Bank of Commerce has a 1 year low of $46.50 and a 1 year high of $67.45. The stock has a market cap of $53.36 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 1.62 and a beta of 1.07. The business has a fifty day moving average of $60.51 and a 200-day moving average of $62.13. 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 declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be paid a $0.6723 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.69 annualized dividend and a dividend yield of 4.74%. Canadian Imperial Bank of Commerce’s payout ratio is 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.