Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Ossiam

Ossiam cut its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 49.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,133 shares of the bank’s stock after selling 58,236 shares during the period. Ossiam’s holdings in Canadian Imperial Bank of Commerce were worth $3,739,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Crews Bank & Trust purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at approximately $25,000. Operose Advisors LLC acquired a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at $26,000. SBI Securities Co. Ltd. purchased a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth $30,000. Sandy Spring Bank acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $32,000. Finally, IFP Advisors Inc raised its holdings in Canadian Imperial Bank of Commerce by 318.1% in the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock valued at $34,000 after buying an additional 404 shares during the period. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Up 0.3 %

Shares of CM opened at $58.94 on Friday. The company’s 50-day simple moving average is $58.14 and its 200-day simple moving average is $61.55. 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 has a 1 year low of $46.50 and a 1 year high of $67.45. The stock has a market capitalization of $55.41 billion, a PE ratio of 11.02, a P/E/G ratio of 1.62 and a beta of 0.98.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be given a $0.6723 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.69 annualized dividend and a yield of 4.56%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 48.03%.

Analyst Upgrades and Downgrades

CM has been the subject of several research analyst reports. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Monday, April 14th. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.00.

About Canadian Imperial Bank of Commerce

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.