Triasima Portfolio Management inc. Reduces Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Triasima Portfolio Management inc. decreased its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 10.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 251,784 shares of the bank’s stock after selling 30,132 shares during the period. Canadian Imperial Bank of Commerce comprises approximately 3.1% of Triasima Portfolio Management inc.’s investment portfolio, making the stock its 3rd biggest holding. Triasima Portfolio Management inc.’s holdings in Canadian Imperial Bank of Commerce were worth $15,919,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Crews Bank & Trust bought a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth $25,000. BNP Paribas Financial Markets bought a new position in Canadian Imperial Bank of Commerce in the third quarter worth about $44,000. Versant Capital Management Inc lifted its position in shares of Canadian Imperial Bank of Commerce by 1,069.4% during the fourth quarter. Versant Capital Management Inc now owns 725 shares of the bank’s stock valued at $46,000 after buying an additional 663 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 571.6% in the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock valued at $45,000 after buying an additional 623 shares in the last quarter. Finally, City State Bank purchased a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter worth approximately $61,000. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Wall Street Analyst Weigh In

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

Canadian Imperial Bank of Commerce Trading Up 0.2 %

Shares of Canadian Imperial Bank of Commerce stock opened at $61.81 on Friday. Canadian Imperial Bank of Commerce has a 1 year low of $43.86 and a 1 year high of $67.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $58.25 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 1.66 and a beta of 1.05. The firm has a fifty day moving average price of $63.82 and a 200 day moving average price of $60.62.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th were issued a $0.6912 dividend. This represents a $2.76 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend was Friday, December 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. Canadian Imperial Bank of Commerce’s payout ratio is 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.