Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. decreased its position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 35.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,548,497 shares of the bank's stock after selling 6,849,441 shares during the period. Canadian Imperial Bank of Commerce comprises 1.7% of Cibc World Market Inc.'s investment portfolio, making the stock its 11th biggest position. Cibc World Market Inc. owned approximately 1.33% of Canadian Imperial Bank of Commerce worth $793,441,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Squarepoint Ops LLC purchased a new stake in Canadian Imperial Bank of Commerce during the 2nd quarter worth approximately $407,000. Creative Planning raised its stake in Canadian Imperial Bank of Commerce by 16.4% in the 2nd quarter. Creative Planning now owns 59,822 shares of the bank's stock valued at $2,844,000 after purchasing an additional 8,426 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Canadian Imperial Bank of Commerce in the 2nd quarter valued at $326,000. Massmutual Trust Co. FSB ADV boosted its stake in Canadian Imperial Bank of Commerce by 23.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank's stock worth $56,000 after purchasing an additional 171 shares during the last quarter. Finally, Park Avenue Securities LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 43.5% during the third quarter. Park Avenue Securities LLC now owns 8,625 shares of the bank's stock worth $529,000 after buying an additional 2,615 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Stock Up 2.9 %

Shares of NYSE:CM traded up $1.75 during trading hours on Tuesday, reaching $61.70. The stock had a trading volume of 839,390 shares, compared to its average volume of 1,151,170. The stock has a market capitalization of $58.14 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 1.66 and a beta of 1.05. The firm's 50 day moving average is $63.94 and its 200-day moving average is $60.53. Canadian Imperial Bank of Commerce has a 1 year low of $43.86 and a 1 year high of $67.45. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th were given a dividend of $0.6912 per share. This represents a $2.76 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend was Friday, December 27th. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.65. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 51.22%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada upgraded shares of 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. StockNews.com raised Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $92.00.

About Canadian Imperial Bank of Commerce

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.