Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Unigestion Holding SA

Unigestion Holding SA trimmed its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 26.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 90,158 shares of the bank’s stock after selling 32,751 shares during the quarter. Unigestion Holding SA’s holdings in Canadian Imperial Bank of Commerce were worth $5,693,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Canadian Imperial Bank of Commerce by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 39,385,238 shares of the bank’s stock worth $2,491,431,000 after purchasing an additional 749,843 shares in the last quarter. TD Asset Management Inc. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 3.7% in the fourth quarter. TD Asset Management Inc. now owns 23,600,495 shares of the bank’s stock worth $1,492,138,000 after buying an additional 851,164 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Canadian Imperial Bank of Commerce by 1.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,757,382 shares of the bank’s stock worth $679,613,000 after acquiring an additional 115,884 shares in the last quarter. Norges Bank acquired a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $570,477,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Canadian Imperial Bank of Commerce by 37.3% in the 4th quarter. JPMorgan Chase & Co. now owns 8,043,106 shares of the bank’s stock valued at $508,566,000 after acquiring an additional 2,185,262 shares in the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Trading Down 3.6 %

Canadian Imperial Bank of Commerce stock opened at $56.79 on Friday. Canadian Imperial Bank of Commerce has a 12 month low of $46.50 and a 12 month high of $67.45. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a market cap of $53.39 billion, a P/E ratio of 10.62, a P/E/G ratio of 1.62 and a beta of 0.98. The company’s fifty day simple moving average is $59.43 and its 200-day simple moving average is $61.91.

Canadian Imperial Bank of Commerce Cuts Dividend

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

Wall Street Analyst Weigh In

CM has been the topic of several research analyst reports. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com lowered Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $92.00.

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.