Canadian Imperial Bank of Commerce (NYSE:CM) Shares Acquired by MML Investors Services LLC

MML Investors Services LLC increased its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 0.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,008 shares of the bank’s stock after purchasing an additional 237 shares during the period. MML Investors Services LLC’s holdings in Canadian Imperial Bank of Commerce were worth $2,699,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CM. Ridgewood Investments LLC purchased a new position in shares of Canadian Imperial Bank of Commerce in the 2nd quarter valued at approximately $29,000. BNP Paribas Financial Markets purchased a new position in Canadian Imperial Bank of Commerce in the 3rd quarter valued at $44,000. Blue Trust Inc. increased its stake in Canadian Imperial Bank of Commerce by 571.6% in the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock valued at $45,000 after buying an additional 623 shares during the period. Massmutual Trust Co. FSB ADV raised its position in Canadian Imperial Bank of Commerce by 23.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock worth $56,000 after buying an additional 171 shares during the last quarter. Finally, City State Bank acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 3rd quarter worth $61,000. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Stock Down 0.2 %

Canadian Imperial Bank of Commerce stock opened at $66.15 on Monday. Canadian Imperial Bank of Commerce has a fifty-two week low of $43.86 and a fifty-two week high of $67.45. The firm has a market capitalization of $62.48 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 1.78 and a beta of 1.06. The stock’s fifty day moving average is $63.69 and its two-hundred day moving average is $56.81. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be paid a $0.6912 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 4.18%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date is Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 53.46%.

Analyst Upgrades and Downgrades

CM has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. BMO Capital Markets increased their target price on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $97.00 price target (up from $74.00) on shares of Canadian Imperial Bank of Commerce in a research note on Friday, December 6th. Cormark upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 30th. Finally, Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $89.00.

About Canadian Imperial Bank of Commerce

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.