Parametric Portfolio Associates LLC Buys 62,368 Shares of Canadian Imperial Bank of Commerce (CM)

Parametric Portfolio Associates LLC lifted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 41.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 212,031 shares of the bank’s stock after buying an additional 62,368 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Canadian Imperial Bank of Commerce were worth $18,557,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its position in Canadian Imperial Bank of Commerce by 55.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the bank’s stock worth $120,000 after purchasing an additional 526 shares in the last quarter. Quantum Capital Management LLC NJ purchased a new stake in Canadian Imperial Bank of Commerce in the 3rd quarter valued at about $134,000. Nationwide Fund Advisors purchased a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter valued at about $138,000. D.A. Davidson & CO. purchased a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter valued at about $162,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in Canadian Imperial Bank of Commerce in the 3rd quarter valued at about $201,000. 44.37% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce (NYSE:CM) opened at $98.21 on Friday. Canadian Imperial Bank of Commerce has a 52-week low of $77.20 and a 52-week high of $100.01. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $43,350.00, a P/E ratio of 10.94, a price-to-earnings-growth ratio of 4.93 and a beta of 1.12.

The company also recently declared a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Thursday, December 28th will be issued a $1.011 dividend. The ex-dividend date is Wednesday, December 27th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 4.12%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 44.99%.

CM has been the subject of a number of research reports. Canaccord Genuity reiterated a “buy” rating and set a $121.00 target price on shares of Canadian Imperial Bank of Commerce in a report on Thursday, November 30th. Zacks Investment Research upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday, December 4th. Scotiabank reissued a “hold” rating and set a $128.00 price target on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, November 22nd. Citigroup lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and set a $120.00 price target on the stock. in a research report on Wednesday, October 25th. Finally, Credit Suisse Group raised Canadian Imperial Bank of Commerce from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $116.00 to $125.00 in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $114.00.

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Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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