Intact Investment Management Inc. trimmed its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 10.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,560,123 shares of the bank's stock after selling 184,340 shares during the period. Canadian Imperial Bank of Commerce makes up 3.4% of Intact Investment Management Inc.'s investment portfolio, making the stock its 3rd largest holding. Intact Investment Management Inc. owned 0.17% of Canadian Imperial Bank of Commerce worth $98,676,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the stock. Crews Bank & Trust bought a new stake in Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. bought a new stake in Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $30,000. IFP Advisors Inc grew 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 buying an additional 404 shares during the period. BNP Paribas Financial Markets bought a new stake in Canadian Imperial Bank of Commerce during the third quarter valued at approximately $44,000. Finally, Versant Capital Management Inc grew its position in Canadian Imperial Bank of Commerce by 1,069.4% during the fourth quarter. Versant Capital Management Inc now owns 725 shares of the bank's stock valued at $46,000 after buying an additional 663 shares during the period. 49.88% of the stock is owned by hedge funds and other institutional investors.
Canadian Imperial Bank of Commerce Price Performance
Shares of NYSE:CM traded down $0.42 during midday trading on Tuesday, reaching $56.76. 669,396 shares of the company were exchanged, compared to its average volume of 1,094,546. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The business's fifty day moving average is $60.99 and its two-hundred day moving average is $62.20. Canadian Imperial Bank of Commerce has a one year low of $46.50 and a one year high of $67.45. The stock has a market cap of $53.36 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07.
Canadian Imperial Bank of Commerce Cuts Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be given a dividend of $0.6723 per share. The ex-dividend date is Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.74%. Canadian Imperial Bank of Commerce's dividend payout ratio is 48.03%.
Wall Street Analyst Weigh In
CM has been the subject of several recent research reports. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research 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 upped their price target for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce has an average rating of "Hold" and an average price target of $92.00.
Check Out Our Latest Research Report on CM
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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