TD Private Client Wealth LLC Has $1.19 Million Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

TD Private Client Wealth LLC trimmed its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 52.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,787 shares of the bank's stock after selling 20,780 shares during the quarter. TD Private Client Wealth LLC's holdings in Canadian Imperial Bank of Commerce were worth $1,188,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CM. Crews Bank & Trust purchased a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at about $30,000. Sandy Spring Bank purchased a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth approximately $32,000. IFP Advisors Inc boosted its holdings in shares of Canadian Imperial Bank of Commerce by 318.1% during the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank's stock worth $34,000 after purchasing an additional 404 shares during the period. Finally, BNP Paribas Financial Markets purchased a new position in Canadian Imperial Bank of Commerce during the third quarter valued at approximately $44,000. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Performance

Shares of NYSE CM traded down $0.76 during trading hours on Thursday, hitting $57.33. 1,367,135 shares of the stock were exchanged, compared to its average volume of 1,082,987. The firm has a market capitalization of $53.89 billion, a P/E ratio of 10.71, a P/E/G ratio of 1.62 and a beta of 1.07. Canadian Imperial Bank of Commerce has a one year low of $46.50 and a one year high of $67.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The company's 50 day moving average is $60.26 and its 200 day moving average is $62.10.

Remove Ads

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be issued a $0.6723 dividend. This represents a $2.69 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is currently 48.03%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CM. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and lifted their target price for the company 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 research report on Friday, February 14th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $92.00.

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.