Plato Investment Management Ltd Has $3.73 Million Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Plato Investment Management Ltd raised its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 10.9% in the 4th quarter, HoldingsChannel reports. The fund owned 58,712 shares of the bank’s stock after purchasing an additional 5,769 shares during the period. Plato Investment Management Ltd’s holdings in Canadian Imperial Bank of Commerce were worth $3,726,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. acquired a new position in Canadian Imperial Bank of Commerce in the 4th quarter valued at approximately $30,000. Jones Financial Companies Lllp raised its holdings in Canadian Imperial Bank of Commerce by 14.8% in the 4th quarter. Jones Financial Companies Lllp now owns 14,550 shares of the bank’s stock valued at $920,000 after acquiring an additional 1,875 shares in the last quarter. Williamson Legacy Group LLC acquired a new position in Canadian Imperial Bank of Commerce in the 4th quarter valued at approximately $245,000. Versor Investments LP raised its holdings in Canadian Imperial Bank of Commerce by 227.9% in the 4th quarter. Versor Investments LP now owns 19,856 shares of the bank’s stock valued at $1,255,000 after acquiring an additional 13,801 shares in the last quarter. Finally, First Command Advisory Services Inc. acquired a new position in Canadian Imperial Bank of Commerce in the 4th quarter valued at approximately $63,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CM. 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 raised 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 report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Trading Up 1.1 %

Shares of CM opened at $60.55 on Monday. Canadian Imperial Bank of Commerce has a 1 year low of $46.50 and a 1 year high of $67.45. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a 50 day simple moving average of $62.48 and a 200-day simple moving average of $61.99. The stock has a market cap of $57.06 billion, a PE ratio of 11.32, a PEG ratio of 1.62 and a beta 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. Investors of record on Friday, March 28th will be issued a dividend of $0.6723 per share. 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 4.44%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 47.67%.

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.