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

Savant Capital LLC lifted its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 38.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 16,053 shares of the bank’s stock after purchasing 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 reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new position in shares of Canadian Imperial Bank of Commerce during the second quarter worth approximately $326,000. Creative Planning boosted its position in Canadian Imperial Bank of Commerce by 12.8% in the 3rd quarter. Creative Planning now owns 67,492 shares of the bank’s stock valued at $4,140,000 after buying an additional 7,670 shares during the last quarter. Bleakley Financial Group LLC increased its stake in shares of Canadian Imperial Bank of Commerce by 7.1% in the 3rd quarter. Bleakley Financial Group LLC now owns 6,908 shares of the bank’s stock valued at $424,000 after buying an additional 460 shares during the period. Blue Trust Inc. raised 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 acquiring an additional 623 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Canadian Imperial Bank of Commerce during the third quarter valued at $4,741,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CM. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday. Royal Bank of Canada raised shares of 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 note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of NYSE:CM opened at $62.10 on Friday. The company has a market capitalization of $58.53 billion, a price-to-earnings ratio of 11.61, a P/E/G ratio of 1.64 and a beta of 1.05. The firm’s 50 day simple moving average is $63.49 and its 200 day simple moving average is $61.02. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a fifty-two week low of $45.13 and a fifty-two week high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th were given a dividend of $0.6912 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.45%. This is a boost 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 (DPR) is currently 51.22%.

Canadian Imperial Bank of Commerce Company 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.