Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd decreased its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 21.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,000 shares of the bank's stock after selling 4,900 shares during the period. UniSuper Management Pty Ltd's holdings in Canadian Imperial Bank of Commerce were worth $1,138,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC increased its stake in Canadian Imperial Bank of Commerce by 3.3% in the 3rd quarter. FMR LLC now owns 2,106,913 shares of the bank's stock valued at $129,239,000 after buying an additional 67,480 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Canadian Imperial Bank of Commerce by 6.1% during the third quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank's stock worth $359,320,000 after acquiring an additional 334,545 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Canadian Imperial Bank of Commerce during the third quarter worth about $10,045,000. Rhumbline Advisers raised its holdings in Canadian Imperial Bank of Commerce by 12.6% during the fourth quarter. Rhumbline Advisers now owns 3,622 shares of the bank's stock worth $229,000 after purchasing an additional 404 shares in the last quarter. Finally, Bridgewater Associates LP acquired a new stake in Canadian Imperial Bank of Commerce in the third quarter valued at about $601,000. Hedge funds and other institutional investors own 49.88% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com lowered Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM traded down $2.15 during trading on Friday, hitting $56.79. 2,226,177 shares of the stock were exchanged, compared to its average volume of 1,148,150. Canadian Imperial Bank of Commerce has a 12-month low of $46.50 and a 12-month high of $67.45. The company has a market cap of $53.39 billion, a PE ratio of 10.62, a P/E/G ratio of 1.62 and a beta of 0.98. The company has a fifty day moving average price of $59.43 and a two-hundred day moving average price of $61.91. 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 Cuts Dividend

The company 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 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 48.03%.

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.