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

Ossiam lessened its holdings in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 49.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 59,133 shares of the bank's stock after selling 58,236 shares during the quarter. Ossiam's holdings in Canadian Imperial Bank of Commerce were worth $3,739,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Capital International Inc. CA raised its holdings in Canadian Imperial Bank of Commerce by 143.0% in the fourth quarter. Capital International Inc. CA now owns 114,822 shares of the bank's stock worth $7,261,000 after buying an additional 67,571 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Canadian Imperial Bank of Commerce by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,944,113 shares of the bank's stock valued at $186,160,000 after buying an additional 31,521 shares during the last quarter. Forum Financial Management LP grew its holdings in Canadian Imperial Bank of Commerce by 22.7% during the fourth quarter. Forum Financial Management LP now owns 6,499 shares of the bank's stock valued at $411,000 after purchasing an additional 1,203 shares during the period. Capital International Ltd. CA purchased a new position in Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $5,663,000. Finally, Capital Group Investment Management PTE. LTD. purchased a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at $1,477,000. Institutional investors own 49.88% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CM shares. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and lifted their price objective for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. Jefferies Financial Group downgraded shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Monday. Finally, StockNews.com downgraded Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $92.00.

Canadian Imperial Bank of Commerce Stock Up 2.3 %

NYSE:CM traded up $1.32 during mid-day trading on Tuesday, reaching $59.76. The company's stock had a trading volume of 3,792,851 shares, compared to its average volume of 1,141,672. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a 1 year low of $46.50 and a 1 year high of $67.45. The stock has a fifty day moving average of $58.03 and a 200-day moving average of $61.54. The firm has a market capitalization of $56.18 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be issued a $0.6723 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.50%. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 48.03%.

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.