Atomi Financial Group Inc. Boosts Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Atomi Financial Group Inc. increased its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 19.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,415 shares of the bank’s stock after acquiring an additional 1,536 shares during the period. Atomi Financial Group Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $595,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CM. Public Sector Pension Investment Board lifted its holdings in shares of Canadian Imperial Bank of Commerce by 32.0% during the third quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank’s stock valued at $228,043,000 after purchasing an additional 900,575 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Canadian Imperial Bank of Commerce by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 7,213,860 shares of the bank’s stock valued at $342,946,000 after acquiring an additional 228,130 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in shares of Canadian Imperial Bank of Commerce by 140.6% during the 3rd quarter. Ritholtz Wealth Management now owns 14,308 shares of the bank’s stock valued at $878,000 after acquiring an additional 8,362 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Canadian Imperial Bank of Commerce by 3.4% during the third quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank’s stock valued at $696,659,000 after purchasing an additional 375,837 shares during the last quarter. Finally, Atlanta Consulting Group Advisors LLC purchased a new position in shares of Canadian Imperial Bank of Commerce during the third quarter valued at approximately $671,000. 49.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

CM has been the subject of a number of research analyst reports. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock opened at $63.60 on Friday. The stock’s fifty day moving average is $64.15 and its 200 day moving average is $59.68. Canadian Imperial Bank of Commerce has a one year low of $43.86 and a one year high of $67.45. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $59.94 billion, a P/E ratio of 11.89, a P/E/G ratio of 1.67 and a beta of 1.06.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th will be given a dividend of $0.6912 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Friday, December 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 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.