PDS Planning Inc Increases Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

PDS Planning Inc grew its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,167 shares of the bank’s stock after purchasing an additional 189 shares during the quarter. PDS Planning Inc’s holdings in Canadian Imperial Bank of Commerce were worth $327,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Signaturefd LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 3.1% during the 4th quarter. Signaturefd LLC now owns 22,347 shares of the bank’s stock worth $1,413,000 after acquiring an additional 667 shares during the period. Twin Tree Management LP grew its stake in shares of Canadian Imperial Bank of Commerce by 159.7% during the 4th 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 during the period. Gold Investment Management Ltd. grew its stake in shares of Canadian Imperial Bank of Commerce by 1.6% during the 4th quarter. Gold Investment Management Ltd. now owns 55,117 shares of the bank’s stock worth $3,486,000 after acquiring an additional 892 shares during the period. Natixis Advisors LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 6.3% during the 4th quarter. Natixis Advisors LLC now owns 49,849 shares of the bank’s stock worth $3,152,000 after acquiring an additional 2,957 shares during the period. Finally, Aviso Financial Inc. boosted its stake in Canadian Imperial Bank of Commerce by 1,098.7% in the 4th quarter. Aviso Financial Inc. now owns 639,512 shares of the bank’s stock worth $40,444,000 after purchasing an additional 586,160 shares during the period. 49.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CM. StockNews.com upgraded 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 increased their target price for the stock from $97.00 to $103.00 in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Stock Performance

NYSE CM opened at $56.76 on Wednesday. Canadian Imperial Bank of Commerce has a 1 year low of $46.50 and a 1 year high of $67.45. 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 P/E/G ratio of 1.62 and a beta of 1.07. The company’s 50 day simple moving average is $60.87 and its two-hundred day simple moving average is $62.19.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be issued 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 is Friday, March 28th. Canadian Imperial Bank of Commerce’s payout ratio is 48.03%.

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.