Williamson Legacy Group LLC Invests $245,000 in Canadian Imperial Bank of Commerce (NYSE:CM)

Williamson Legacy Group LLC acquired a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,872 shares of the bank’s stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CM. Blue Trust Inc. boosted its position 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 worth $45,000 after buying an additional 623 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in Canadian Imperial Bank of Commerce during the third quarter worth approximately $243,000. First Trust Direct Indexing L.P. raised its holdings in 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 worth $693,000 after purchasing an additional 4,318 shares in the last quarter. Financial Advocates Investment Management bought a new stake in Canadian Imperial Bank of Commerce during the third quarter worth approximately $223,000. Finally, US Bancorp DE raised its holdings in 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 worth $937,000 after purchasing an additional 906 shares in the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Price Performance

NYSE CM opened at $60.55 on Friday. The stock has a market capitalization of $57.06 billion, a P/E ratio of 11.32, 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 $46.50 and a 1 year high of $67.45. The business’s fifty day moving average is $62.48 and its two-hundred day moving average is $61.84. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be given a dividend of $0.6723 per share. This represents a $2.69 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce’s payout ratio is 51.21%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. 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 boosted 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 issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $92.00.

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.