Mesirow Financial Investment Management Inc. Boosts Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Mesirow Financial Investment Management Inc. grew its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 33,094 shares of the bank’s stock after acquiring an additional 222 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $2,092,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Crews Bank & Trust purchased a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth $25,000. SBI Securities Co. Ltd. purchased a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth $30,000. IFP Advisors Inc increased its stake in shares of Canadian Imperial Bank of Commerce by 318.1% in the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock worth $34,000 after buying an additional 404 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of Canadian Imperial Bank of Commerce in the third quarter worth $44,000. Finally, Versant Capital Management Inc increased its stake in shares of Canadian Imperial Bank of Commerce by 1,069.4% in the fourth quarter. Versant Capital Management Inc now owns 725 shares of the bank’s stock worth $46,000 after buying an additional 663 shares during the period. 49.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CM has been the topic of several 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 note on Wednesday, January 8th. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of “Hold” and an average price target of $92.00.

Canadian Imperial Bank of Commerce Stock Down 0.2 %

Shares of Canadian Imperial Bank of Commerce stock opened at $56.70 on Friday. 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 company’s fifty day simple moving average is $61.85 and its two-hundred day simple moving average is $62.04. The company has a market cap of $53.43 billion, a P/E ratio of 10.60, a PEG ratio of 1.62 and a beta of 1.07. Canadian Imperial Bank of Commerce has a 12-month low of $46.50 and a 12-month high of $67.45.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be given a dividend of $0.6723 per share. This represents a $2.69 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s payout ratio is currently 48.03%.

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.