Benjamin Edwards Inc. Sells 4,460 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Benjamin Edwards Inc. cut its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 52.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,104 shares of the bank's stock after selling 4,460 shares during the quarter. Benjamin Edwards Inc.'s holdings in Canadian Imperial Bank of Commerce were worth $259,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CM. Crews Bank & Trust bought a new stake in Canadian Imperial Bank of Commerce in the 4th quarter worth about $25,000. Operose Advisors LLC bought a new stake in Canadian Imperial Bank of Commerce in the 4th quarter worth about $26,000. SBI Securities Co. Ltd. purchased a new position in Canadian Imperial Bank of Commerce in the fourth quarter worth about $30,000. Sandy Spring Bank purchased a new position in Canadian Imperial Bank of Commerce in the fourth quarter worth about $32,000. Finally, IFP Advisors Inc boosted its position in Canadian Imperial Bank of Commerce by 318.1% in 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 last quarter. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM stock traded up $0.27 during trading hours on Thursday, reaching $65.76. 925,587 shares of the company traded hands, compared to its average volume of 1,128,530. Canadian Imperial Bank of Commerce has a 12-month low of $46.99 and a 12-month 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 has a market cap of $61.82 billion, a P/E ratio of 12.29, a P/E/G ratio of 1.62 and a beta of 1.06. The firm has a 50-day moving average price of $58.97 and a 200 day moving average price of $61.70.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, March 28th were given a dividend of $0.6723 per share. The ex-dividend date was Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.09%. Canadian Imperial Bank of Commerce's payout ratio is currently 48.03%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on CM shares. Scotiabank started coverage on Canadian Imperial Bank of Commerce in a research report on Thursday. They issued a "sector outperform" rating on the stock. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Finally, StockNews.com raised Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of "Moderate Buy" and a consensus 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.