First Command Advisory Services Inc. Buys Shares of 995 Canadian Imperial Bank of Commerce (NYSE:CM)

First Command Advisory Services Inc. bought a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 995 shares of the bank’s stock, valued at approximately $63,000.

A number of other hedge funds also recently added to or reduced their stakes in CM. Blue Trust Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 571.6% during the third quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock valued at $45,000 after purchasing an additional 623 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Canadian Imperial Bank of Commerce during the third quarter valued at $243,000. First Trust Direct Indexing L.P. increased its holdings in shares of Canadian Imperial Bank of Commerce by 61.8% during the third quarter. First Trust Direct Indexing L.P. now owns 11,305 shares of the bank’s stock valued at $693,000 after purchasing an additional 4,318 shares during the period. Financial Advocates Investment Management acquired a new position in shares of Canadian Imperial Bank of Commerce during the third quarter valued at $223,000. Finally, US Bancorp DE increased its holdings in shares of Canadian Imperial Bank of Commerce by 6.3% during the third quarter. US Bancorp DE now owns 15,280 shares of the bank’s stock valued at $937,000 after purchasing an additional 906 shares during the period. 49.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CM has been the topic of a number of research analyst 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 lifted their target price for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has an average rating of “Hold” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Trading Down 0.9 %

Shares of CM opened at $59.90 on Friday. The business’s 50-day moving average price is $62.56 and its 200 day moving average price is $61.77. The stock has a market capitalization of $56.45 billion, a P/E ratio of 11.20, a P/E/G ratio of 1.62 and a beta of 1.05. Canadian Imperial Bank of Commerce has a 1-year low of $46.11 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.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 27th were paid a $0.6912 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.76 dividend on an annualized basis and a yield of 4.62%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 51.21%.

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.