Benjamin Edwards Inc. Makes New Investment in Canadian Imperial Bank of Commerce (NYSE:CM)

Benjamin Edwards Inc. acquired a new stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,564 shares of the bank’s stock, valued at approximately $525,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CM. Ridgewood Investments LLC bought a new stake in Canadian Imperial Bank of Commerce during the 2nd quarter valued at $29,000. BNP Paribas Financial Markets acquired a new position in shares of Canadian Imperial Bank of Commerce during the third quarter valued at about $44,000. Blue Trust Inc. increased its position in shares of Canadian Imperial Bank of Commerce by 571.6% during the third quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock worth $45,000 after acquiring an additional 623 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Canadian Imperial Bank of Commerce by 23.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock worth $56,000 after acquiring an additional 171 shares during the last quarter. Finally, City State Bank bought a new position in Canadian Imperial Bank of Commerce in the 3rd quarter valued at about $61,000. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

NYSE CM opened at $66.66 on Monday. 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 company has a market capitalization of $62.97 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 1.67 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 52-week low of $42.28 and a 52-week high of $67.14. The company has a 50-day simple moving average of $63.10 and a 200 day simple moving average of $56.16.

Canadian Imperial Bank of Commerce Increases Dividend

The company 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 is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date is Friday, December 27th. This represents a $2.76 annualized dividend and a yield of 4.15%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 49.91%.

Analyst Ratings Changes

A number of analysts have commented on the company. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday. Bank of America upgraded Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research note on Friday, August 30th. Cormark upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a report on Friday, August 30th. BMO Capital Markets boosted their price target on shares of Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $97.00 price objective (up previously from $74.00) on shares of Canadian Imperial Bank of Commerce in a research note on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.00.

Canadian Imperial Bank of Commerce 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.