Public Employees Retirement System of Ohio Sells 22,156 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Public Employees Retirement System of Ohio lessened its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 13.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 141,498 shares of the bank's stock after selling 22,156 shares during the period. Public Employees Retirement System of Ohio's holdings in Canadian Imperial Bank of Commerce were worth $8,947,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Crews Bank & Trust acquired a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth about $25,000. Operose Advisors LLC acquired a new position in Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $26,000. SBI Securities Co. Ltd. bought a new position in Canadian Imperial Bank of Commerce in the 4th quarter valued at approximately $30,000. Sandy Spring Bank acquired a new stake in Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $32,000. Finally, IFP Advisors Inc grew its stake 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 worth $34,000 after buying an additional 404 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Jefferies Financial Group downgraded Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Monday, April 21st. Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. National Bank Financial downgraded Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research note on Friday. BMO Capital Markets lifted their target price on shares of Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Royal Bank of Canada upped their price target on shares of Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the company an "outperform" rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $109.00.

Canadian Imperial Bank of Commerce Trading Up 0.1%

NYSE:CM traded up $0.08 on Friday, reaching $67.94. 897,899 shares of the stock traded hands, compared to its average volume of 1,126,254. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a 1-year low of $46.99 and a 1-year high of $69.88. The company's 50 day moving average is $61.57 and its 200-day moving average is $61.99. The firm has a market capitalization of $63.87 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 1.62 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last posted its quarterly earnings data on Thursday, May 29th. The bank reported $1.44 EPS for the quarter, beating analysts' consensus estimates of $1.34 by $0.10. Canadian Imperial Bank of Commerce had a net margin of 11.10% and a return on equity of 14.01%. The company had revenue of $5.09 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the firm posted $1.75 EPS. The company's quarterly revenue was up 13.9% on a year-over-year basis. Equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 28th. Shareholders of record on Friday, June 27th will be issued a dividend of $0.7024 per share. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. This represents a $2.81 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date of this dividend is Friday, June 27th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is presently 47.28%.

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.