Vontobel Holding Ltd. Sells 13,000 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Vontobel Holding Ltd. cut its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 72.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,860 shares of the bank's stock after selling 13,000 shares during the period. Vontobel Holding Ltd.'s holdings in Canadian Imperial Bank of Commerce were worth $307,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Crews Bank & Trust acquired a new position in Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $25,000. BNP Paribas Financial Markets acquired a new position in Canadian Imperial Bank of Commerce during the third quarter valued at approximately $44,000. Versant Capital Management Inc boosted its position in Canadian Imperial Bank of Commerce by 1,069.4% during the fourth quarter. Versant Capital Management Inc now owns 725 shares of the bank's stock valued at $46,000 after purchasing an additional 663 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Canadian Imperial Bank of Commerce by 571.6% in the third quarter. Blue Trust Inc. now owns 732 shares of the bank's stock valued at $45,000 after buying an additional 623 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of Canadian Imperial Bank of Commerce by 27.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,161 shares of the bank's stock valued at $73,000 after buying an additional 250 shares during the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports 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 company from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com raised Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has a consensus rating of "Moderate Buy" and an average target price of $92.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of NYSE CM traded down $0.81 during trading hours on Friday, reaching $60.81. 691,526 shares of the stock were exchanged, compared to its average volume of 999,530. The firm has a market capitalization of $57.31 billion, a price-to-earnings ratio of 11.37, a P/E/G ratio of 1.63 and a beta of 1.05. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. Canadian Imperial Bank of Commerce has a 52 week low of $46.11 and a 52 week high of $67.45. The stock's fifty day simple moving average is $63.02 and its 200 day simple moving average is $61.41.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th were paid a dividend of $0.6912 per share. The ex-dividend date was Friday, December 27th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.55%. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.65. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 51.21%.

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.