BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 3,190,327 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lowered its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 61.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,015,995 shares of the bank's stock after selling 3,190,327 shares during the quarter. Canadian Imperial Bank of Commerce comprises 0.8% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's portfolio, making the stock its 20th largest position. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned approximately 0.21% of Canadian Imperial Bank of Commerce worth $127,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 2.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,179,347 shares of the bank's stock worth $74,570,000 after acquiring an additional 32,036 shares during the period. Toronto Dominion Bank boosted its position in shares of Canadian Imperial Bank of Commerce by 1.1% during the fourth quarter. Toronto Dominion Bank now owns 22,138,015 shares of the bank's stock valued at $1,398,619,000 after purchasing an additional 234,088 shares in the last quarter. Quantinno Capital Management LP grew its stake in Canadian Imperial Bank of Commerce by 5.7% in the fourth quarter. Quantinno Capital Management LP now owns 38,357 shares of the bank's stock worth $2,425,000 after purchasing an additional 2,065 shares during the period. Nuveen Asset Management LLC raised its holdings in Canadian Imperial Bank of Commerce by 0.3% in the fourth quarter. Nuveen Asset Management LLC now owns 1,085,906 shares of the bank's stock worth $68,656,000 after purchasing an additional 2,802 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its position in Canadian Imperial Bank of Commerce by 59.2% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 1,199,914 shares of the bank's stock valued at $75,864,000 after buying an additional 446,314 shares during the period. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Stock Up 1.8%

NYSE:CM traded up $1.20 on Monday, reaching $68.15. 1,177,957 shares of the stock traded hands, compared to its average volume of 1,136,930. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $64.07 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 1.62 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 12 month low of $46.99 and a 12 month high of $68.35. The company's fifty day simple moving average is $60.48 and its 200 day simple moving average is $61.84.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Investors of record on Friday, March 28th were issued a $0.6723 dividend. The ex-dividend date was Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a yield of 3.95%. Canadian Imperial Bank of Commerce's payout ratio is currently 48.03%.

Analyst Ratings Changes

A number of analysts have recently weighed in on CM shares. Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Saturday. Scotiabank initiated coverage on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 15th. They issued a "sector outperform" rating on the stock. Finally, 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. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of "Moderate Buy" and an average target price 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.