Janney Montgomery Scott LLC Sells 15,092 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Janney Montgomery Scott LLC lessened its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 22.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,833 shares of the bank's stock after selling 15,092 shares during the period. Janney Montgomery Scott LLC's holdings in Canadian Imperial Bank of Commerce were worth $3,341,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Atomi Financial Group Inc. increased its stake in shares of Canadian Imperial Bank of Commerce by 19.5% in the fourth quarter. Atomi Financial Group Inc. now owns 9,415 shares of the bank's stock worth $595,000 after purchasing an additional 1,536 shares during the period. Addenda Capital Inc. grew its holdings in Canadian Imperial Bank of Commerce by 5.9% in the 4th quarter. Addenda Capital Inc. now owns 545,010 shares of the bank's stock valued at $34,461,000 after buying an additional 30,382 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Canadian Imperial Bank of Commerce by 27.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,161 shares of the bank's stock worth $73,000 after buying an additional 250 shares during the period. Nexus Investment Management ULC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 0.9% during the fourth quarter. Nexus Investment Management ULC now owns 74,142 shares of the bank's stock worth $4,679,000 after buying an additional 640 shares during the last quarter. Finally, HB Wealth Management LLC bought a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $228,000. Institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Stock Performance

CM traded up $1.73 during trading on Tuesday, reaching $61.68. 1,238,520 shares of the company's stock were exchanged, compared to its average volume of 1,172,269. The company has a market capitalization of $58.13 billion, a P/E ratio of 11.53, a PEG ratio of 1.66 and a beta of 1.05. 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 business has a 50 day moving average price of $63.94 and a 200 day moving average price of $60.53. Canadian Imperial Bank of Commerce has a fifty-two week low of $43.86 and a fifty-two week high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 27th were paid a $0.6912 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.76 dividend on an annualized basis and a yield of 4.48%. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.65. Canadian Imperial Bank of Commerce's payout ratio is presently 51.22%.

Wall Street Analyst Weigh In

CM has been the topic of a number of research reports. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of "Moderate Buy" and an average price target of $92.00.

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.