Unigestion Holding SA trimmed its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 58.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 122,909 shares of the bank's stock after selling 169,524 shares during the period. Unigestion Holding SA's holdings in Canadian Imperial Bank of Commerce were worth $7,538,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce in the second quarter worth about $29,000. BNP Paribas Financial Markets purchased a new stake in shares of Canadian Imperial Bank of Commerce during the third quarter valued at approximately $44,000. Blue Trust Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 571.6% during the third quarter. Blue Trust Inc. now owns 732 shares of the bank's stock valued at $45,000 after purchasing an additional 623 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Canadian Imperial Bank of Commerce during the second quarter worth $51,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of Canadian Imperial Bank of Commerce by 23.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank's stock valued at $56,000 after purchasing an additional 171 shares during the period. 49.88% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on CM shares. Cormark upgraded shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "moderate buy" rating in a report on Friday, August 30th. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Friday, December 6th. Royal Bank of Canada reissued a "sector perform" rating and issued a $97.00 target price (up previously from $74.00) on shares of Canadian Imperial Bank of Commerce in a research report on Friday, December 6th. BMO Capital Markets boosted their price target on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the company an "outperform" rating in a report on Friday, August 30th. Finally, Bank of America upgraded Canadian Imperial Bank of Commerce from a "neutral" rating to a "buy" rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $89.00.
View Our Latest Stock Report on CM
Canadian Imperial Bank of Commerce Trading Up 1.2 %
Shares of NYSE:CM traded up $0.82 during trading on Wednesday, hitting $67.30. 1,748,121 shares of the company's stock were exchanged, compared to its average volume of 1,364,007. 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 firm has a market cap of $63.57 billion, a P/E ratio of 12.56, a PEG ratio of 1.76 and a beta of 1.06. The firm has a 50-day moving average price of $63.32 and a two-hundred day moving average price of $56.42. Canadian Imperial Bank of Commerce has a 1-year low of $42.59 and a 1-year high of $67.45.
Canadian Imperial Bank of Commerce Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be issued a $0.6912 dividend. The ex-dividend date is Friday, December 27th. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.65. This represents a $2.76 annualized dividend and a yield of 4.11%. Canadian Imperial Bank of Commerce's payout ratio is currently 53.46%.
Canadian Imperial Bank of Commerce Company Profile
(
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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