Aviva PLC Has $35.84 Million Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Aviva PLC reduced its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 37.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 567,731 shares of the bank’s stock after selling 343,088 shares during the quarter. Aviva PLC owned about 0.06% of Canadian Imperial Bank of Commerce worth $35,841,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CM. Crews Bank & Trust acquired a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. bought a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth $30,000. Sandy Spring Bank acquired a new position in Canadian Imperial Bank of Commerce in the fourth quarter valued at $32,000. IFP Advisors Inc boosted its position in Canadian Imperial Bank of Commerce by 318.1% during the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock valued at $34,000 after acquiring an additional 404 shares during the last quarter. Finally, Lee Danner & Bass Inc. acquired a new stake in Canadian Imperial Bank of Commerce during the 4th quarter worth about $44,000. 49.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Canadian Imperial Bank of Commerce Trading Down 3.6 %

Shares of Canadian Imperial Bank of Commerce stock opened at $56.79 on Monday. The stock has a market capitalization of $53.39 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. Canadian Imperial Bank of Commerce has a 52 week low of $46.50 and a 52 week high of $67.45. The stock has a 50 day moving average price of $59.43 and a two-hundred day moving average price of $61.92. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be issued a dividend of $0.6723 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.69 annualized dividend and a yield of 4.74%. Canadian Imperial Bank of Commerce’s payout ratio is 48.03%.

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.