Ossiam Sells 58,236 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Ossiam lowered its holdings in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 49.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 59,133 shares of the bank's stock after selling 58,236 shares during the quarter. Ossiam's holdings in Canadian Imperial Bank of Commerce were worth $3,739,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in CM. PDS Planning Inc raised its position in shares of Canadian Imperial Bank of Commerce by 3.8% during the fourth quarter. PDS Planning Inc now owns 5,167 shares of the bank's stock worth $327,000 after acquiring an additional 189 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Canadian Imperial Bank of Commerce by 4.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank's stock valued at $255,000 after purchasing an additional 194 shares during the period. Mesirow Financial Investment Management Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 0.7% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 33,094 shares of the bank's stock valued at $2,092,000 after purchasing an additional 222 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Canadian Imperial Bank of Commerce by 27.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,161 shares of the bank's stock worth $73,000 after buying an additional 250 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in Canadian Imperial Bank of Commerce by 5.7% in the fourth quarter. Fifth Third Bancorp now owns 4,971 shares of the bank's stock valued at $314,000 after buying an additional 270 shares during the period. Institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Trading Up 0.9 %

NYSE:CM traded up $0.55 on Friday, reaching $60.92. The company's stock had a trading volume of 189,001 shares, compared to its average volume of 1,135,840. The firm has a market cap of $57.27 billion, a PE ratio of 11.40, a PEG ratio of 1.62 and a beta of 0.98. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The business's 50-day moving average price is $57.96 and its two-hundred day moving average price is $61.53. Canadian Imperial Bank of Commerce has a 1-year low of $46.50 and a 1-year high of $67.45.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be paid a dividend of $0.6723 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a yield of 4.41%. Canadian Imperial Bank of Commerce's payout ratio is 48.03%.

Analysts Set New Price Targets

Several brokerages have commented on CM. StockNews.com cut shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research report on Tuesday. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. Finally, Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research note on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" 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.