Cetera Investment Advisers Sells 19,744 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Cetera Investment Advisers lowered its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 42.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 27,155 shares of the bank's stock after selling 19,744 shares during the period. Cetera Investment Advisers' holdings in Canadian Imperial Bank of Commerce were worth $1,717,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crews Bank & Trust purchased a new stake in shares of 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 during the 4th quarter valued at about $26,000. SBI Securities Co. Ltd. purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at about $30,000. Sandy Spring Bank purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at about $32,000. Finally, IFP Advisors Inc increased its position in shares of Canadian Imperial Bank of Commerce by 318.1% during the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank's stock valued at $34,000 after purchasing an additional 404 shares during the last quarter. Institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Price Performance

CM traded up $1.20 during trading on Monday, reaching $68.15. 1,177,957 shares of the company traded hands, compared to its average volume of 1,136,930. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. Canadian Imperial Bank of Commerce has a 12-month low of $46.99 and a 12-month high of $68.35. The firm has a fifty day simple moving average of $60.71 and a 200 day simple moving average of $61.87. The company has a market cap of $64.07 billion, a P/E ratio of 12.74, a PEG ratio of 1.62 and a beta of 1.06.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently announced 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 of this dividend was Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a dividend yield of 3.95%. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 48.03%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CM. Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Saturday. Scotiabank began coverage on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 15th. They issued a "sector outperform" rating for the company. 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 equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus 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.