Polar Asset Management Partners Inc. Sells 5,163 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Polar Asset Management Partners Inc. decreased its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 20.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,837 shares of the bank’s stock after selling 5,163 shares during the period. Polar Asset Management Partners Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $1,254,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CM. Quantinno Capital Management LP raised its stake in shares of Canadian Imperial Bank of Commerce by 5.7% in the fourth quarter. Quantinno Capital Management LP now owns 38,357 shares of the bank’s stock valued at $2,425,000 after buying an additional 2,065 shares during the period. Nuveen Asset Management LLC raised its stake in Canadian Imperial Bank of Commerce by 0.3% in the 4th quarter. Nuveen Asset Management LLC now owns 1,085,906 shares of the bank’s stock valued at $68,656,000 after acquiring an additional 2,802 shares during the period. OMERS ADMINISTRATION Corp lifted its holdings in Canadian Imperial Bank of Commerce by 59.2% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 1,199,914 shares of the bank’s stock valued at $75,864,000 after purchasing an additional 446,314 shares during the last quarter. Focus Partners Wealth lifted its holdings in Canadian Imperial Bank of Commerce by 18.5% during the fourth quarter. Focus Partners Wealth now owns 7,401 shares of the bank’s stock valued at $468,000 after purchasing an additional 1,155 shares during the last quarter. Finally, Ewing Morris & Co. Investment Partners Ltd. bought a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth about $284,000. 49.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on CM. Scotiabank assumed coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday. They issued a “sector outperform” rating on the stock. Jefferies Financial Group downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Monday, April 21st. Finally, StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock opened at $66.27 on Friday. The firm’s 50 day simple moving average is $59.39 and its 200 day simple moving average is $61.73. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a 1-year low of $46.99 and a 1-year high of $67.45. The firm has a market capitalization of $62.30 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.62 and a beta of 1.06.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, March 28th were given a $0.6723 dividend. The ex-dividend date was Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.06%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 48.03%.

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.