Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Naples Global Advisors LLC

Naples Global Advisors LLC reduced its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 9.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 80,030 shares of the bank's stock after selling 8,333 shares during the period. Naples Global Advisors LLC's holdings in Canadian Imperial Bank of Commerce were worth $5,111,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Sanctuary Advisors LLC bought a new stake in Canadian Imperial Bank of Commerce during the 2nd quarter valued at $326,000. Creative Planning raised its position in Canadian Imperial Bank of Commerce by 12.8% during the 3rd quarter. Creative Planning now owns 67,492 shares of the bank's stock valued at $4,140,000 after purchasing an additional 7,670 shares in the last quarter. Nexus Investment Management ULC raised its position in Canadian Imperial Bank of Commerce by 0.6% during the 3rd quarter. Nexus Investment Management ULC now owns 73,502 shares of the bank's stock valued at $4,514,000 after purchasing an additional 472 shares in the last quarter. Sunpointe LLC bought a new stake in Canadian Imperial Bank of Commerce during the 3rd quarter valued at $226,000. Finally, Bleakley Financial Group LLC raised its position in Canadian Imperial Bank of Commerce by 7.1% during the 3rd quarter. Bleakley Financial Group LLC now owns 6,908 shares of the bank's stock valued at $424,000 after purchasing an additional 460 shares in the last quarter. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Stock Up 0.1 %

CM stock traded up $0.09 on Friday, hitting $62.10. 546,590 shares of the company's stock were exchanged, compared to its average volume of 1,094,838. Canadian Imperial Bank of Commerce has a 12-month low of $45.13 and a 12-month high of $67.45. The firm has a 50 day moving average price of $63.40 and a two-hundred day moving average price of $61.17. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market cap of $58.53 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 1.64 and a beta of 1.05.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th were paid a dividend of $0.6912 per share. This represents a $2.76 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend was Friday, December 27th. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.65. Canadian Imperial Bank of Commerce's payout ratio is presently 51.22%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CM. StockNews.com raised Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Friday. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and boosted 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 issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.00.

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.