Unigestion Holding SA Has $5.69 Million Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Unigestion Holding SA decreased its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 26.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,158 shares of the bank's stock after selling 32,751 shares during the quarter. Unigestion Holding SA's holdings in Canadian Imperial Bank of Commerce were worth $5,693,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in shares of Canadian Imperial Bank of Commerce by 6.1% during the third quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank's stock valued at $359,320,000 after purchasing an additional 334,545 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Canadian Imperial Bank of Commerce during the third quarter valued at $10,045,000. Rhumbline Advisers lifted its holdings in shares of Canadian Imperial Bank of Commerce by 12.6% during the fourth quarter. Rhumbline Advisers now owns 3,622 shares of the bank's stock worth $229,000 after purchasing an additional 404 shares during the period. American Century Companies Inc. grew its stake in shares of Canadian Imperial Bank of Commerce by 8.5% in the fourth quarter. American Century Companies Inc. now owns 299,211 shares of the bank's stock worth $18,927,000 after purchasing an additional 23,403 shares during the last quarter. Finally, Benjamin Edwards Inc. acquired a new stake in Canadian Imperial Bank of Commerce in the third quarter valued at $525,000. 49.88% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several research analysts have commented on CM shares. StockNews.com downgraded Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a report on Friday, April 4th. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and upped their target price for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Canadian Imperial Bank of Commerce currently has an average rating of "Moderate Buy" and an average target price of $92.00.

Canadian Imperial Bank of Commerce Trading Up 1.4 %

Canadian Imperial Bank of Commerce stock traded up $0.78 during trading hours on Friday, reaching $57.19. 354,626 shares of the company's stock were exchanged, compared to its average volume of 1,150,340. The firm has a market capitalization of $53.76 billion, a PE ratio of 10.68, a PEG ratio of 1.62 and a beta of 0.98. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The firm's 50 day simple moving average is $58.55 and its 200 day simple moving average is $61.68. Canadian Imperial Bank of Commerce has a twelve month low of $46.50 and a twelve month high of $67.45.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders 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 yield of 4.70%. Canadian Imperial Bank of Commerce's payout ratio is currently 48.03%.

Canadian Imperial Bank of Commerce Company 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.