Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC reduced its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 9.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 51,079 shares of the bank's stock after selling 5,423 shares during the quarter. Metis Global Partners LLC's holdings in Canadian Imperial Bank of Commerce were worth $3,231,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CM. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 4.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank's stock valued at $255,000 after purchasing an additional 194 shares in the last quarter. PDS Planning Inc increased its holdings in Canadian Imperial Bank of Commerce by 4.7% in the third quarter. PDS Planning Inc now owns 4,978 shares of the bank's stock valued at $305,000 after buying an additional 224 shares in the last quarter. MML Investors Services LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 0.5% during the 3rd quarter. MML Investors Services LLC now owns 44,008 shares of the bank's stock valued at $2,699,000 after acquiring an additional 237 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Canadian Imperial Bank of Commerce by 27.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,161 shares of the bank's stock worth $73,000 after acquiring an additional 250 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Canadian Imperial Bank of Commerce by 5.7% in the 4th quarter. Fifth Third Bancorp now owns 4,971 shares of the bank's stock worth $314,000 after acquiring an additional 270 shares during the period. Institutional investors and hedge funds own 49.88% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CM. StockNews.com raised Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Friday, February 14th. Royal Bank of Canada raised 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 research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $92.00.

Canadian Imperial Bank of Commerce Trading Up 1.3 %

NYSE CM traded up $0.77 during mid-day trading on Wednesday, reaching $58.17. 434,705 shares of the stock were exchanged, compared to its average volume of 1,137,128. The business's fifty day simple moving average is $62.25 and its 200 day simple moving average is $62.08. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $54.82 billion, a PE ratio of 10.86, a PEG ratio of 1.62 and a beta of 1.05. Canadian Imperial Bank of Commerce has a 1-year low of $46.50 and a 1-year high of $67.45.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be given a $0.6723 dividend. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 47.67%.

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.