Canadian Imperial Bank of Commerce (NYSE:CM) Stock Holdings Trimmed by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. lowered its position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,298,883 shares of the bank's stock after selling 31,196 shares during the quarter. Canadian Imperial Bank of Commerce accounts for approximately 5.3% of Cardinal Capital Management Inc.'s investment portfolio, making the stock its 6th largest position. Cardinal Capital Management Inc. owned approximately 0.25% of Canadian Imperial Bank of Commerce worth $111,043,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Wealth Strategies LLC. bought a new stake in Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $211,000. FIL Ltd boosted its holdings in Canadian Imperial Bank of Commerce by 218.0% in the fourth quarter. FIL Ltd now owns 3,195,091 shares of the bank's stock valued at $153,841,000 after acquiring an additional 2,190,378 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Canadian Imperial Bank of Commerce by 94.4% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,080,761 shares of the bank's stock valued at $292,949,000 after acquiring an additional 2,952,277 shares during the last quarter. Power Corp of Canada boosted its holdings in Canadian Imperial Bank of Commerce by 1.8% in the fourth quarter. Power Corp of Canada now owns 94,861 shares of the bank's stock valued at $4,575,000 after acquiring an additional 1,704 shares during the last quarter. Finally, Barometer Capital Management Inc. bought a new stake in Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $9,082,000. Institutional investors and hedge funds own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Stock Performance

CM traded down $0.50 during trading hours on Friday, hitting $47.53. The stock had a trading volume of 995,648 shares, compared to its average volume of 1,323,233. The company's fifty day simple moving average is $48.44 and its 200 day simple moving average is $47.44. Canadian Imperial Bank of Commerce has a 1 year low of $34.35 and a 1 year high of $51.14. The stock has a market cap of $44.82 billion, a PE ratio of 9.78, a price-to-earnings-growth ratio of 1.87 and a beta of 1.06. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.15.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be issued a $0.653 dividend. This represents a $2.61 annualized dividend and a yield of 5.50%. The ex-dividend date is Friday, June 28th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is currently 54.53%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods raised Canadian Imperial Bank of Commerce from a "market perform" rating to an "outperform" rating in a research report on Monday, June 3rd. Jefferies Financial Group assumed coverage on Canadian Imperial Bank of Commerce in a research report on Thursday, February 22nd. They set a "buy" rating for the company. Scotiabank raised Canadian Imperial Bank of Commerce from a "sector perform" rating to a "sector outperform" rating in a research report on Tuesday, February 20th. Barclays assumed coverage on Canadian Imperial Bank of Commerce in a research report on Wednesday, March 20th. They set an "underweight" rating for the company. Finally, BMO Capital Markets lifted their price objective on Canadian Imperial Bank of Commerce from $74.00 to $77.00 and gave the stock an "outperform" rating in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $67.00.

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.