Guardian Partners Inc. Takes Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Guardian Partners Inc. acquired a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 337,987 shares of the bank’s stock, valued at approximately $21,341,000. Canadian Imperial Bank of Commerce makes up approximately 2.2% of Guardian Partners Inc.’s investment portfolio, making the stock its 10th largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of CM. PDS Planning Inc lifted 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 worth $327,000 after acquiring an additional 189 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Canadian Imperial Bank of Commerce by 4.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank’s stock worth $255,000 after acquiring an additional 194 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its position in Canadian Imperial Bank of Commerce by 0.7% during the 4th quarter. Mesirow Financial Investment Management Inc. now owns 33,094 shares of the bank’s stock worth $2,092,000 after acquiring an additional 222 shares in the last quarter. MML Investors Services LLC lifted its position in Canadian Imperial Bank of Commerce by 0.5% during the 3rd quarter. MML Investors Services LLC now owns 44,008 shares of the bank’s stock worth $2,699,000 after acquiring an additional 237 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in Canadian Imperial Bank of Commerce by 27.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,161 shares of the bank’s stock worth $73,000 after acquiring an additional 250 shares in the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the company. StockNews.com raised 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 raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $92.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM opened at $56.77 on Friday. The business’s 50 day moving average is $60.51 and its two-hundred day moving average is $62.13. Canadian Imperial Bank of Commerce has a 52-week low of $46.50 and a 52-week high of $67.45. The firm has a market cap of $53.36 billion, a price-to-earnings ratio of 10.61, a PEG ratio of 1.62 and a beta of 1.07. 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 firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be given a $0.6723 dividend. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce’s payout ratio is 48.03%.

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.