Aigen Investment Management LP lowered its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 29.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,796 shares of the bank's stock after selling 5,718 shares during the quarter. Aigen Investment Management LP's holdings in Canadian Imperial Bank of Commerce were worth $873,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Public Sector Pension Investment Board lifted its stake in Canadian Imperial Bank of Commerce by 32.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank's stock worth $228,043,000 after purchasing an additional 900,575 shares in the last quarter. CIBC Asset Management Inc lifted its stake in Canadian Imperial Bank of Commerce by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank's stock worth $696,659,000 after purchasing an additional 375,837 shares in the last quarter. Atlanta Consulting Group Advisors LLC purchased a new stake in Canadian Imperial Bank of Commerce in the 3rd quarter worth $671,000. FMR LLC lifted its stake in Canadian Imperial Bank of Commerce by 3.3% in the 3rd quarter. FMR LLC now owns 2,106,913 shares of the bank's stock worth $129,239,000 after purchasing an additional 67,480 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Canadian Imperial Bank of Commerce by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank's stock worth $359,320,000 after purchasing an additional 334,545 shares in the last quarter. Hedge funds and other institutional investors own 49.88% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on CM shares. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Friday, February 14th. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock 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 four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $92.00.
Read Our Latest Analysis on CM
Canadian Imperial Bank of Commerce Price Performance
Shares of Canadian Imperial Bank of Commerce stock traded down $0.10 during trading hours on Friday, reaching $56.70. The company's stock had a trading volume of 820,403 shares, compared to its average volume of 1,108,527. The stock has a market cap of $53.43 billion, a P/E ratio of 10.60, a P/E/G ratio of 1.62 and a beta of 1.07. Canadian Imperial Bank of Commerce has a one year low of $46.50 and a one year high of $67.45. The firm has a 50 day moving average price of $61.85 and a 200-day moving average price of $62.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05.
Canadian Imperial Bank of Commerce Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors 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%.
About Canadian Imperial Bank of Commerce
(
Free Report)
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.
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