Achmea Investment Management B.V. Acquires 303,624 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Achmea Investment Management B.V. boosted its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1,377.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 325,667 shares of the bank’s stock after purchasing an additional 303,624 shares during the quarter. Achmea Investment Management B.V.’s holdings in Canadian Imperial Bank of Commerce were worth $20,590,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CM. Assetmark Inc. grew its holdings in Canadian Imperial Bank of Commerce by 18.8% during the 3rd quarter. Assetmark Inc. now owns 29,181 shares of the bank’s stock valued at $1,790,000 after buying an additional 4,610 shares in the last quarter. Entropy Technologies LP purchased a new position in Canadian Imperial Bank of Commerce during the 3rd quarter valued at approximately $1,122,000. Aigen Investment Management LP grew its holdings in Canadian Imperial Bank of Commerce by 23.8% during the 3rd quarter. Aigen Investment Management LP now owns 19,514 shares of the bank’s stock valued at $1,197,000 after buying an additional 3,750 shares in the last quarter. Plato Investment Management Ltd purchased a new position in Canadian Imperial Bank of Commerce during the 3rd quarter valued at approximately $3,248,000. Finally, CIBC Asset Management Inc grew its holdings 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 valued at $696,659,000 after buying an additional 375,837 shares in the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

CM opened at $55.97 on Thursday. The business has a fifty day moving average of $61.39 and a 200 day moving average of $62.14. Canadian Imperial Bank of Commerce has a 52-week low of $46.50 and a 52-week 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 $52.74 billion, a P/E ratio of 10.46, a PEG ratio of 1.62 and a beta of 1.07.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be issued a dividend of $0.6723 per share. This represents a $2.69 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce’s payout ratio is currently 48.03%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CM. Royal Bank of Canada upgraded 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 report on Wednesday, January 8th. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and a consensus target price of $92.00.

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.