Savant Capital LLC Purchases 4,483 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Savant Capital LLC increased its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 38.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,053 shares of the bank’s stock after acquiring an additional 4,483 shares during the quarter. Savant Capital LLC’s holdings in Canadian Imperial Bank of Commerce were worth $1,015,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Canadian Imperial Bank of Commerce by 14.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,641,498 shares of the bank’s stock worth $652,676,000 after purchasing an additional 1,305,665 shares during the last quarter. Zurich Insurance Group Ltd FI acquired a new position in shares of Canadian Imperial Bank of Commerce during the third quarter worth approximately $62,849,000. Public Sector Pension Investment Board boosted its position in shares of Canadian Imperial Bank of Commerce by 32.0% in the third quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank’s stock valued at $228,043,000 after acquiring an additional 900,575 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Canadian Imperial Bank of Commerce by 23.3% in the third quarter. The Manufacturers Life Insurance Company now owns 3,187,106 shares of the bank’s stock worth $195,561,000 after acquiring an additional 601,234 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Canadian Imperial Bank of Commerce by 3.4% during the third quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank’s stock worth $696,659,000 after acquiring an additional 375,837 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

NYSE CM opened at $62.10 on Friday. Canadian Imperial Bank of Commerce has a twelve month low of $45.13 and a twelve month high of $67.45. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a market cap of $58.53 billion, a P/E ratio of 11.61, a PEG ratio of 1.64 and a beta of 1.05. The company’s 50-day simple moving average is $63.49 and its 200 day simple moving average is $61.02.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th were paid a $0.6912 dividend. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. This represents a $2.76 annualized dividend and a dividend yield of 4.45%. The ex-dividend date was Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 51.22%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average target price 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.