Fmr LLC Lowers Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

FMR LLC reduced its position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 2.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,059,222 shares of the bank's stock after selling 47,691 shares during the period. FMR LLC owned about 0.22% of Canadian Imperial Bank of Commerce worth $130,261,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CM. PDS Planning Inc increased its stake in shares of Canadian Imperial Bank of Commerce by 3.8% during the 4th quarter. PDS Planning Inc now owns 5,167 shares of the bank's stock worth $327,000 after purchasing an additional 189 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Canadian Imperial Bank of Commerce by 4.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank's stock worth $255,000 after buying an additional 194 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its position in Canadian Imperial Bank of Commerce by 0.7% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 33,094 shares of the bank's stock worth $2,092,000 after buying an additional 222 shares in the last quarter. MML Investors Services LLC raised its holdings in shares of Canadian Imperial Bank of Commerce by 0.5% in the third quarter. MML Investors Services LLC now owns 44,008 shares of the bank's stock worth $2,699,000 after acquiring an additional 237 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of Canadian Imperial Bank of Commerce by 27.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,161 shares of the bank's stock valued at $73,000 after acquiring an additional 250 shares in the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Trading Up 0.3 %

Shares of NYSE:CM traded up $0.17 during midday trading on Friday, reaching $58.94. The company's stock had a trading volume of 588,465 shares, compared to its average volume of 1,144,478. The business has a 50 day moving average price of $58.19 and a 200 day moving average price of $61.56. Canadian Imperial Bank of Commerce has a 1 year low of $46.50 and a 1 year high of $67.45. The firm has a market cap of $55.41 billion, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.6723 per share. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 48.03%.

Analyst Ratings Changes

A number of analysts recently commented on CM shares. StockNews.com upgraded Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Monday. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.