Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. trimmed its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 54.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,597 shares of the bank's stock after selling 10,469 shares during the period. Raleigh Capital Management Inc.'s holdings in Canadian Imperial Bank of Commerce were worth $544,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CM. BNP Paribas Financial Markets bought a new position in shares of Canadian Imperial Bank of Commerce during the third quarter valued at approximately $44,000. Blue Trust Inc. grew its position in Canadian Imperial Bank of Commerce by 571.6% in the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank's stock valued at $45,000 after acquiring an additional 623 shares during the last quarter. Versant Capital Management Inc increased its stake in Canadian Imperial Bank of Commerce by 1,069.4% in the fourth quarter. Versant Capital Management Inc now owns 725 shares of the bank's stock worth $46,000 after purchasing an additional 663 shares during the period. Massmutual Trust Co. FSB ADV lifted its position in shares of Canadian Imperial Bank of Commerce by 23.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank's stock worth $56,000 after purchasing an additional 171 shares during the last quarter. Finally, City State Bank purchased a new stake in shares of Canadian Imperial Bank of Commerce during the third quarter valued at $61,000. Institutional investors own 49.88% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and raised their price target for the stock from $97.00 to $103.00 in a research note on Wednesday, January 8th. StockNews.com lowered Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $92.00.

Canadian Imperial Bank of Commerce Stock Down 0.0 %

Shares of NYSE:CM traded down $0.03 on Thursday, reaching $63.60. The company had a trading volume of 469,676 shares, compared to its average volume of 1,198,684. The firm has a market capitalization of $59.94 billion, a PE ratio of 11.88, a PEG ratio of 1.67 and a beta of 1.06. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a 52-week low of $43.86 and a 52-week high of $67.45. The firm's 50 day simple moving average is $64.15 and its 200-day simple moving average is $59.68.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be issued a $0.6912 dividend. The ex-dividend date of this dividend is Friday, December 27th. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.65. This represents a $2.76 dividend on an annualized basis and a yield of 4.35%. Canadian Imperial Bank of Commerce's payout ratio is currently 51.22%.

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.