NewSquare Capital LLC Purchases New Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

NewSquare Capital LLC purchased a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 92,521 shares of the bank’s stock, valued at approximately $5,850,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CM. Crews Bank & Trust acquired a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $30,000. IFP Advisors Inc increased its holdings in shares of Canadian Imperial Bank of Commerce by 318.1% in the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock valued at $34,000 after purchasing an additional 404 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Canadian Imperial Bank of Commerce in the third quarter valued at approximately $44,000. Finally, Versant Capital Management Inc increased its holdings in shares of Canadian Imperial Bank of Commerce by 1,069.4% in the fourth quarter. Versant Capital Management Inc now owns 725 shares of the bank’s stock valued at $46,000 after purchasing an additional 663 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CM shares. StockNews.com raised shares of 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 raised shares of 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of “Hold” and a consensus target price of $92.00.

Canadian Imperial Bank of Commerce Trading Down 3.8 %

Shares of NYSE CM opened at $57.47 on Wednesday. The company’s fifty day moving average is $62.25 and its 200-day moving average is $62.08. The stock has a market cap of $54.15 billion, a price-to-earnings ratio of 10.74, a P/E/G ratio of 1.62 and a beta of 1.05. Canadian Imperial Bank of Commerce has a twelve month low of $46.50 and a twelve month high of $67.45. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be given a dividend of $0.6723 per share. The ex-dividend date is Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.68%. 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.