3,244 Shares in Canadian Imperial Bank of Commerce (NYSE:CM) Acquired by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich bought a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the fourth quarter, HoldingsChannel.com reports. The firm bought 3,244 shares of the bank’s stock, valued at approximately $205,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. CIBC Asset Management Inc grew its position in Canadian Imperial Bank of Commerce by 3.4% during the 3rd 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 last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Canadian Imperial Bank of Commerce by 14.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,641,498 shares of the bank’s stock worth $652,676,000 after buying an additional 1,305,665 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Canadian Imperial Bank of Commerce by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank’s stock worth $359,320,000 after acquiring an additional 334,545 shares in the last quarter. Geode Capital Management LLC lifted its stake in Canadian Imperial Bank of Commerce by 8.6% in the third quarter. Geode Capital Management LLC now owns 4,245,235 shares of the bank’s stock valued at $262,598,000 after buying an additional 336,854 shares during the period. Finally, Public Sector Pension Investment Board lifted its position in shares of Canadian Imperial Bank of Commerce by 32.0% during the 3rd 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. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock opened at $55.66 on Tuesday. 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 current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $52.45 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07. The firm’s 50 day simple moving average is $61.69 and its 200 day simple moving average is $62.18.

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 paid a $0.6723 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a yield of 4.83%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 48.03%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CM. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target 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.