Canadian Imperial Bank of Commerce (CM) Shares Bought by Sei Investments Co.

Sei Investments Co. lifted its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 6,455.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,664 shares of the bank’s stock after purchasing an additional 27,242 shares during the quarter. Sei Investments Co.’s holdings in Canadian Imperial Bank of Commerce were worth $2,422,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its holdings in Canadian Imperial Bank of Commerce by 55.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the bank’s stock worth $120,000 after buying an additional 526 shares during the period. INR Advisory Services LLC acquired a new position in Canadian Imperial Bank of Commerce in the 2nd quarter worth approximately $125,000. Nationwide Fund Advisors acquired a new position in Canadian Imperial Bank of Commerce in the 2nd quarter worth approximately $138,000. D.A. Davidson & CO. acquired a new position in Canadian Imperial Bank of Commerce in the 2nd quarter worth approximately $162,000. Finally, Summit Securities Group LLC acquired a new position in Canadian Imperial Bank of Commerce in the 3rd quarter worth approximately $219,000. Institutional investors own 44.76% of the company’s stock.

CM has been the topic of a number of analyst reports. Credit Suisse Group raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $116.00 to $125.00 in a research note on Friday. Scotiabank reaffirmed a “hold” rating and set a $128.00 price objective on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, November 22nd. Citigroup cut shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a research note on Wednesday, October 25th. Canaccord Genuity reaffirmed a “buy” rating and set a $121.00 price objective on shares of Canadian Imperial Bank of Commerce in a research note on Thursday. Finally, Zacks Investment Research cut shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Wednesday, November 8th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $114.00.

Shares of Canadian Imperial Bank of Commerce (CM) opened at $95.47 on Friday. The company has a market cap of $41,942.84, a P/E ratio of 11.22, a PEG ratio of 3.84 and a beta of 1.12. Canadian Imperial Bank of Commerce has a one year low of $77.20 and a one year high of $95.73. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.96 and a current ratio of 0.96.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Thursday, December 28th will be paid a dividend of $1.011 per share. The ex-dividend date is Wednesday, December 27th. This represents a $4.04 dividend on an annualized basis and a dividend yield of 4.24%. Canadian Imperial Bank of Commerce’s payout ratio is 47.04%.

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Canadian Imperial Bank of Commerce 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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