Zions Bancorporation N.A. Lowers Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Zions Bancorporation N.A. lessened its position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 48.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 45,270 shares of the bank's stock after selling 43,228 shares during the period. Zions Bancorporation N.A.'s holdings in Canadian Imperial Bank of Commerce were worth $2,862,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. TD Asset Management Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 3.7% in the fourth quarter. TD Asset Management Inc. now owns 23,600,495 shares of the bank's stock valued at $1,492,138,000 after purchasing an additional 851,164 shares in the last quarter. Prudential Financial Inc. lifted its stake in Canadian Imperial Bank of Commerce by 16.1% during the 4th quarter. Prudential Financial Inc. now owns 37,295 shares of the bank's stock valued at $2,358,000 after acquiring an additional 5,185 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Canadian Imperial Bank of Commerce by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 39,385,238 shares of the bank's stock worth $2,491,431,000 after acquiring an additional 749,843 shares during the last quarter. Guardian Partners Inc. bought a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth $21,341,000. Finally, Fox Run Management L.L.C. raised its holdings in shares of Canadian Imperial Bank of Commerce by 139.2% in the fourth quarter. Fox Run Management L.L.C. now owns 14,163 shares of the bank's stock valued at $896,000 after purchasing an additional 8,243 shares during the last quarter. Institutional investors own 49.88% of the company's stock.

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Wall Street Analyst Weigh In

Several research firms recently weighed in on CM. StockNews.com raised 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 Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Canadian Imperial Bank of Commerce currently has an average rating of "Moderate Buy" and an average price target of $92.00.

Canadian Imperial Bank of Commerce Stock Performance

CM traded down $1.13 during trading hours on Friday, hitting $56.16. The stock had a trading volume of 1,310,798 shares, compared to its average volume of 1,146,790. The stock has a market cap of $52.79 billion, a PE ratio of 10.50, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07. Canadian Imperial Bank of Commerce has a 1 year low of $46.50 and a 1 year high of $67.45. 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 company's fifty day simple moving average is $60.03 and its 200 day simple moving average is $62.05.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be paid a $0.6723 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a yield of 4.79%. Canadian Imperial Bank of Commerce's dividend payout ratio is 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.