Versor Investments LP Acquires 13,801 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Versor Investments LP raised its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 227.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 19,856 shares of the bank’s stock after acquiring an additional 13,801 shares during the period. Versor Investments LP’s holdings in Canadian Imperial Bank of Commerce were worth $1,255,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. First Command Advisory Services Inc. bought a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at $63,000. Mn Services Vermogensbeheer B.V. raised its position in shares of Canadian Imperial Bank of Commerce by 1.5% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 203,400 shares of the bank’s stock valued at $12,860,000 after acquiring an additional 3,000 shares during the last quarter. Checchi Capital Advisers LLC raised its position in shares of Canadian Imperial Bank of Commerce by 16.1% during the 4th quarter. Checchi Capital Advisers LLC now owns 4,149 shares of the bank’s stock valued at $262,000 after acquiring an additional 576 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Canadian Imperial Bank of Commerce by 7.3% during the 4th quarter. Bank of New York Mellon Corp now owns 868,803 shares of the bank’s stock valued at $54,934,000 after acquiring an additional 58,830 shares during the last quarter. Finally, IFP Advisors Inc raised its position in shares of Canadian Imperial Bank of Commerce by 318.1% during the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock valued at $34,000 after acquiring an additional 404 shares during the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at $59.90 on Friday. The stock has a 50-day moving average price of $62.56 and a two-hundred day moving average price of $61.77. The stock has a market cap of $56.45 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 1.62 and a beta of 1.05. 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 has a 1 year low of $46.11 and a 1 year high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th were paid a dividend of $0.6912 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.62%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date was Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 51.21%.

Analysts Set New Price Targets

A number of analysts recently commented on CM shares. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday, February 14th. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and a consensus price target of $92.00.

About Canadian Imperial Bank of Commerce

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.