Lee Danner & Bass Inc. Purchases Shares of 700 Canadian Imperial Bank of Commerce (NYSE:CM)

Lee Danner & Bass Inc. purchased a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 700 shares of the bank’s stock, valued at approximately $44,000.

Other large investors have also recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth approximately $30,000. Sandy Spring Bank acquired a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth approximately $32,000. IFP Advisors Inc raised its holdings in shares of Canadian Imperial Bank of Commerce by 318.1% in the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock worth $34,000 after buying an additional 404 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities 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 price target for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Stock Up 0.2 %

NYSE CM opened at $56.77 on Friday. The firm has a market cap of $53.36 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07. Canadian Imperial Bank of Commerce has a one year low of $46.50 and a one year high of $67.45. The stock’s 50 day simple moving average is $60.51 and its 200 day simple moving average is $62.13. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be given a $0.6723 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a yield of 4.74%. Canadian Imperial Bank of Commerce’s payout ratio is 48.03%.

About Canadian Imperial Bank of Commerce

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.