Charles Schwab Investment Management Inc. Purchases 7,794 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Charles Schwab Investment Management Inc. raised its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 0.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,526,773 shares of the bank’s stock after acquiring an additional 7,794 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $159,759,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Crews Bank & Trust bought a new position in Canadian Imperial Bank of Commerce during the fourth quarter valued at $25,000. SBI Securities Co. Ltd. bought a new position in Canadian Imperial Bank of Commerce during the fourth quarter valued at $30,000. IFP Advisors Inc grew its holdings in Canadian Imperial Bank of Commerce by 318.1% during 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 during the period. BNP Paribas Financial Markets bought a new position in Canadian Imperial Bank of Commerce during the third quarter valued at $44,000. Finally, Versant Capital Management Inc grew its holdings in Canadian Imperial Bank of Commerce by 1,069.4% during 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 during the period. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock opened at $56.70 on Friday. Canadian Imperial Bank of Commerce has a one year low of $46.50 and a one year high of $67.45. The business has a fifty day moving average price of $61.85 and a 200-day moving average price of $62.04. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market capitalization of $53.43 billion, a P/E ratio of 10.60, a PEG ratio of 1.62 and a beta of 1.07.

Canadian Imperial Bank of Commerce Cuts Dividend

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

Analysts Set New Price Targets

CM has been the subject of several research reports. 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 raised their price target 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 issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and a consensus price target of $92.00.

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.