MML Investors Services LLC Has $1.36 Million Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

MML Investors Services LLC lessened its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 51.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,461 shares of the bank's stock after selling 22,547 shares during the quarter. MML Investors Services LLC's holdings in Canadian Imperial Bank of Commerce were worth $1,357,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. PDS Planning Inc grew its stake in shares of Canadian Imperial Bank of Commerce by 3.8% in the 4th quarter. PDS Planning Inc now owns 5,167 shares of the bank's stock valued at $327,000 after purchasing an additional 189 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Canadian Imperial Bank of Commerce by 4.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank's stock valued at $255,000 after buying an additional 194 shares during the last quarter. Mesirow Financial Investment Management Inc. increased its stake in Canadian Imperial Bank of Commerce by 0.7% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 33,094 shares of the bank's stock valued at $2,092,000 after buying an additional 222 shares during the period. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Canadian Imperial Bank of Commerce by 27.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,161 shares of the bank's stock worth $73,000 after acquiring an additional 250 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of Canadian Imperial Bank of Commerce by 5.7% in the fourth quarter. Fifth Third Bancorp now owns 4,971 shares of the bank's stock valued at $314,000 after acquiring an additional 270 shares in the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. StockNews.com downgraded shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a report on Wednesday, April 30th. Finally, Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and upped their target price for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has an average rating of "Hold" and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Stock Performance

CM stock traded down $0.08 during trading on Tuesday, reaching $63.71. 59,414 shares of the company's stock were exchanged, compared to its average volume of 1,126,706. The company's fifty day moving average price is $58.18 and its 200-day moving average price is $61.61. The firm has a market cap of $59.89 billion, a PE ratio of 11.92, a P/E/G ratio of 1.62 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 1-year low of $46.99 and a 1-year high of $67.45. 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 declared a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, March 28th were issued a $0.6723 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.69 annualized dividend and a dividend yield of 4.22%. Canadian Imperial Bank of Commerce's dividend payout ratio is currently 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.