Maryland State Retirement & Pension System Acquires 4,091 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Maryland State Retirement & Pension System increased its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,137 shares of the bank’s stock after acquiring an additional 4,091 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Canadian Imperial Bank of Commerce were worth $7,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Intech Investment Management LLC increased its stake in shares of Canadian Imperial Bank of Commerce by 13.0% during the fourth quarter. Intech Investment Management LLC now owns 167,849 shares of the bank’s stock valued at $10,612,000 after purchasing an additional 19,260 shares in the last quarter. Generali Asset Management SPA SGR purchased a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth approximately $173,000. PDS Planning Inc increased its position in Canadian Imperial Bank of Commerce by 3.8% during the 4th quarter. PDS Planning Inc now owns 5,167 shares of the bank’s stock valued at $327,000 after buying an additional 189 shares in the last quarter. Signaturefd LLC raised its stake in Canadian Imperial Bank of Commerce by 3.1% during the fourth quarter. Signaturefd LLC now owns 22,347 shares of the bank’s stock valued at $1,413,000 after buying an additional 667 shares during the last quarter. Finally, Twin Tree Management LP boosted its holdings in Canadian Imperial Bank of Commerce by 159.7% in the fourth quarter. Twin Tree Management LP now owns 141,929 shares of the bank’s stock worth $8,974,000 after acquiring an additional 379,629 shares in the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Trading Down 0.7 %

Canadian Imperial Bank of Commerce stock opened at $56.76 on Wednesday. Canadian Imperial Bank of Commerce has a one year low of $46.50 and a one year high of $67.45. The business’s fifty day moving average is $60.87 and its 200 day moving average is $62.19. 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 stock has a market capitalization 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 Cuts Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CM. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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.