Janus Henderson Group PLC Sells 10,700 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Janus Henderson Group PLC lowered its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 10.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 88,839 shares of the bank's stock after selling 10,700 shares during the quarter. Janus Henderson Group PLC's holdings in Canadian Imperial Bank of Commerce were worth $5,612,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Crews Bank & Trust bought a new position in Canadian Imperial Bank of Commerce in the 4th quarter worth approximately $25,000. Operose Advisors LLC purchased a new position in Canadian Imperial Bank of Commerce in the 4th quarter worth $26,000. SBI Securities Co. Ltd. purchased a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at about $30,000. Sandy Spring Bank purchased a new position in shares of Canadian Imperial Bank of Commerce in the fourth 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 fourth quarter. IFP Advisors Inc now owns 531 shares of the bank's stock valued at $34,000 after buying an additional 404 shares during the period. Institutional investors and hedge funds own 49.88% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CM shares. Wall Street Zen raised Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Jefferies Financial Group cut shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. Finally, Scotiabank initiated coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They set a "sector outperform" rating on the stock. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM traded up $1.33 during trading on Friday, hitting $68.28. 465,482 shares of the company's stock were exchanged, compared to its average volume of 1,136,521. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a 52-week low of $46.99 and a 52-week high of $68.35. The business's 50-day simple moving average is $60.25 and its 200 day simple moving average is $61.84. The company has a market cap of $64.19 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 1.62 and a beta of 1.06.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, March 28th were issued a $0.6723 dividend. This represents a $2.69 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend was Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 48.03%.

About Canadian Imperial Bank of Commerce

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.