Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Value Partners Investments Inc.

Value Partners Investments Inc. reduced its stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 92.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 82,806 shares of the bank's stock after selling 982,535 shares during the quarter. Canadian Imperial Bank of Commerce comprises about 2.9% of Value Partners Investments Inc.'s portfolio, making the stock its 11th largest holding. Value Partners Investments Inc.'s holdings in Canadian Imperial Bank of Commerce were worth $5,233,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Crews Bank & Trust purchased a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at about $25,000. Operose Advisors LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at $26,000. SBI Securities Co. Ltd. acquired a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth $30,000. Sandy Spring Bank purchased a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth $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 period. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Price Performance

NYSE:CM traded down $0.03 during trading hours on Thursday, reaching $67.88. 1,418,702 shares of the company were exchanged, compared to its average volume of 1,139,706. 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 firm has a market cap of $63.81 billion, a PE ratio of 12.69, a price-to-earnings-growth ratio of 1.62 and a beta of 1.06. Canadian Imperial Bank of Commerce has a twelve month low of $46.99 and a twelve month high of $69.80. The stock's 50-day moving average is $61.17 and its 200-day moving average is $61.95.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, March 28th were paid a dividend of $0.6723 per share. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.69 annualized dividend and a yield of 3.96%. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is currently 48.03%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Scotiabank initiated coverage on Canadian Imperial Bank of Commerce in a report on Thursday, May 15th. They set a "sector outperform" rating on the stock. 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. Finally, Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce has an average rating of "Moderate Buy" and a consensus target price of $92.00.

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.