Skandinaviska Enskilda Banken AB publ Has $26.49 Million Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Skandinaviska Enskilda Banken AB publ lifted its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 244.8% during the 4th quarter, HoldingsChannel reports. The fund owned 417,930 shares of the bank’s stock after acquiring an additional 296,738 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Canadian Imperial Bank of Commerce were worth $26,493,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Public Sector Pension Investment Board grew its stake in shares of Canadian Imperial Bank of Commerce by 32.0% in the third quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank’s stock valued at $228,043,000 after acquiring an additional 900,575 shares in the last quarter. CIBC Asset Management Inc increased its stake in shares of Canadian Imperial Bank of Commerce by 3.4% in the third quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank’s stock valued at $696,659,000 after buying an additional 375,837 shares during the period. Atlanta Consulting Group Advisors LLC acquired a new position in shares of Canadian Imperial Bank of Commerce in the third quarter valued at approximately $671,000. FMR LLC increased its position in Canadian Imperial Bank of Commerce by 3.3% during the 3rd quarter. FMR LLC now owns 2,106,913 shares of the bank’s stock valued at $129,239,000 after purchasing an additional 67,480 shares during the period. Finally, JPMorgan Chase & Co. increased its position 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. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on CM shares. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research 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 raised their price objective for the company 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 stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $92.00.

Canadian Imperial Bank of Commerce Trading Down 1.6 %

Shares of CM opened at $55.07 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $51.90 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07. Canadian Imperial Bank of Commerce has a fifty-two week low of $46.50 and a fifty-two week high of $67.45. The business has a 50-day moving average of $61.24 and a 200 day moving average of $62.09.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.6723 per share. This represents a $2.69 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s payout ratio is presently 48.03%.

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.