Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by First Bank & Trust

First Bank & Trust lessened its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 12.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,329 shares of the bank's stock after selling 5,317 shares during the quarter. First Bank & Trust's holdings in Canadian Imperial Bank of Commerce were worth $2,297,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CM. Public Sector Pension Investment Board lifted its position in Canadian Imperial Bank of Commerce by 32.0% in the third quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank's stock valued at $228,043,000 after purchasing an additional 900,575 shares during the period. CIBC Asset Management Inc raised its stake in shares of Canadian Imperial Bank of Commerce by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank's stock worth $696,659,000 after buying an additional 375,837 shares in the last quarter. Atlanta Consulting Group Advisors LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at approximately $671,000. FMR LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 3.3% in the 3rd quarter. FMR LLC now owns 2,106,913 shares of the bank's stock valued at $129,239,000 after buying an additional 67,480 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Canadian Imperial Bank of Commerce by 6.1% in the third quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank's stock valued at $359,320,000 after buying an additional 334,545 shares in the last quarter. Hedge funds and other institutional investors own 49.88% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and increased their price objective for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock traded down $0.81 during trading hours on Friday, hitting $60.81. The stock had a trading volume of 691,526 shares, compared to its average volume of 999,530. The stock has a market capitalization of $57.31 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 1.63 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a 1-year low of $46.11 and a 1-year high of $67.45. The stock's fifty day moving average is $63.02 and its two-hundred day moving average is $61.41.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th were issued a dividend of $0.6912 per share. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.65. This represents a $2.76 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend was Friday, December 27th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 51.21%.

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.