Alyeska Investment Group L.P. lessened its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 57.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 230,000 shares of the bank's stock after selling 306,587 shares during the period. Alyeska Investment Group L.P.'s holdings in Canadian Imperial Bank of Commerce were worth $14,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also added to or reduced their stakes in CM. Crews Bank & Trust acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth $25,000. Operose Advisors LLC acquired a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at about $26,000. SBI Securities Co. Ltd. purchased a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at approximately $30,000. Sandy Spring Bank acquired a new stake in Canadian Imperial Bank of Commerce in the 4th quarter worth approximately $32,000. Finally, IFP Advisors Inc grew its position in Canadian Imperial Bank of Commerce by 318.1% during the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank's stock worth $34,000 after purchasing an additional 404 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on CM shares. Jefferies Financial Group lowered shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Monday, April 21st. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and boosted their target price for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. Finally, StockNews.com cut Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $92.00.
Get Our Latest Stock Analysis on Canadian Imperial Bank of Commerce
Canadian Imperial Bank of Commerce Trading Up 1.0 %
Shares of CM stock opened at $63.70 on Monday. Canadian Imperial Bank of Commerce has a 1-year low of $46.99 and a 1-year high of $67.45. The firm has a market cap of $59.89 billion, a PE ratio of 11.91, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. The company has a 50-day moving average of $58.11 and a two-hundred day moving average of $61.60. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05.
Canadian Imperial Bank of Commerce Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, March 28th were issued a dividend of $0.6723 per share. This represents a $2.69 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date was Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 48.03%.
Canadian Imperial Bank of Commerce Profile
(
Free Report)
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.
Further Reading
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