Mufg Securities Canada LTD. cut its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 35.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,342,427 shares of the bank's stock after selling 1,294,584 shares during the period. Canadian Imperial Bank of Commerce makes up 5.3% of Mufg Securities Canada LTD.'s portfolio, making the stock its 4th biggest position. Mufg Securities Canada LTD. owned about 0.25% of Canadian Imperial Bank of Commerce worth $148,079,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Canadian Imperial Bank of Commerce by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 39,385,238 shares of the bank's stock valued at $2,491,431,000 after buying an additional 749,843 shares during the last quarter. TD Asset Management Inc. grew its position in shares of Canadian Imperial Bank of Commerce by 3.7% during the 4th quarter. TD Asset Management Inc. now owns 23,600,495 shares of the bank's stock valued at $1,492,138,000 after acquiring an additional 851,164 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Canadian Imperial Bank of Commerce by 1.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,757,382 shares of the bank's stock worth $679,613,000 after purchasing an additional 115,884 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Canadian Imperial Bank of Commerce by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank's stock worth $359,320,000 after purchasing an additional 334,545 shares during the period. Finally, Geode Capital Management LLC lifted its position in Canadian Imperial Bank of Commerce by 8.6% during the third quarter. Geode Capital Management LLC now owns 4,245,235 shares of the bank's stock valued at $262,598,000 after purchasing an additional 336,854 shares in the last quarter. Institutional investors own 49.88% of the company's stock.
Canadian Imperial Bank of Commerce Price Performance
Shares of CM traded down $1.13 during mid-day trading on Friday, hitting $56.16. 1,310,798 shares of the stock were exchanged, compared to its average volume of 1,146,790. 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 company 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 52-week low of $46.50 and a 52-week high of $67.45. The firm has a 50-day moving average of $60.03 and a two-hundred day moving average of $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. Shareholders of record on Friday, March 28th will be given a dividend of $0.6723 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.69 annualized dividend and a yield of 4.79%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is currently 48.03%.
Wall Street Analyst Weigh In
A number of analysts have commented on CM shares. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from $97.00 to $103.00 in a research note on Wednesday, January 8th. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of "Moderate Buy" and an average price target of $92.00.
Read Our Latest Stock Analysis on CM
Canadian Imperial Bank of Commerce Company Profile
(
Free Report)
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.
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