MassMutual Private Wealth & Trust FSB Has $73,000 Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

MassMutual Private Wealth & Trust FSB raised its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 27.4% in the fourth quarter, HoldingsChannel reports. The fund owned 1,161 shares of the bank’s stock after purchasing an additional 250 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Canadian Imperial Bank of Commerce were worth $73,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CM. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Canadian Imperial Bank of Commerce by 14.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,641,498 shares of the bank’s stock worth $652,676,000 after purchasing an additional 1,305,665 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in Canadian Imperial Bank of Commerce in the 3rd quarter valued at $62,849,000. Public Sector Pension Investment Board lifted its stake in Canadian Imperial Bank of Commerce by 32.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank’s stock valued at $228,043,000 after acquiring an additional 900,575 shares in the last quarter. AXA S.A. boosted its holdings in Canadian Imperial Bank of Commerce by 373.3% during the 2nd quarter. AXA S.A. now owns 805,845 shares of the bank’s stock worth $38,310,000 after acquiring an additional 635,592 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Canadian Imperial Bank of Commerce by 23.3% in the third quarter. The Manufacturers Life Insurance Company now owns 3,187,106 shares of the bank’s stock valued at $195,561,000 after purchasing an additional 601,234 shares during the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

NYSE:CM opened at $63.60 on Friday. The company has a market capitalization 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. The business has a fifty day simple moving average of $64.15 and a two-hundred day simple moving average of $59.68. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a 1 year low of $43.86 and a 1 year high of $67.45.

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 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 yield of 4.35%. The ex-dividend date of this dividend is Friday, December 27th. Canadian Imperial Bank of Commerce’s payout ratio is currently 51.22%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of “Moderate Buy” and a consensus target price of $92.00.

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.