Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Value Partners Investments Inc.

Value Partners Investments Inc. lessened its position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 21.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,312,753 shares of the bank's stock after selling 360,571 shares during the period. Canadian Imperial Bank of Commerce comprises about 5.2% of Value Partners Investments Inc.'s portfolio, making the stock its 10th largest holding. Value Partners Investments Inc. owned 0.14% of Canadian Imperial Bank of Commerce worth $63,196,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Tobam boosted its position in Canadian Imperial Bank of Commerce by 7.3% during the fourth quarter. Tobam now owns 7,316 shares of the bank's stock worth $354,000 after purchasing an additional 499 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $38,700,000. DekaBank Deutsche Girozentrale grew its stake in Canadian Imperial Bank of Commerce by 29.7% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 208,987 shares of the bank's stock valued at $9,973,000 after buying an additional 47,867 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co raised its holdings in Canadian Imperial Bank of Commerce by 12.6% in the 4th quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 36,901 shares of the bank's stock valued at $1,780,000 after acquiring an additional 4,130 shares during the period. Finally, Addenda Capital Inc. lifted its position in Canadian Imperial Bank of Commerce by 8.0% during the fourth quarter. Addenda Capital Inc. now owns 228,018 shares of the bank's stock worth $10,977,000 after acquiring an additional 16,894 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Down 2.2 %

Canadian Imperial Bank of Commerce stock traded down $1.12 during midday trading on Wednesday, reaching $49.09. The stock had a trading volume of 2,518,571 shares, compared to its average volume of 1,871,621. The company has a fifty day moving average price of $48.07 and a two-hundred day moving average price of $43.87. Canadian Imperial Bank of Commerce has a 12 month low of $34.35 and a 12 month high of $51.14. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $46.02 billion, a P/E ratio of 10.14, a PEG ratio of 2.36 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last released its quarterly earnings results on Thursday, February 29th. The bank reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.24 by $0.10. The company had revenue of $4.60 billion for the quarter, compared to analyst estimates of $4.47 billion. Canadian Imperial Bank of Commerce had a net margin of 10.79% and a return on equity of 13.07%. As a group, equities analysts expect that Canadian Imperial Bank of Commerce will post 5.04 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, March 28th will be given a $0.6634 dividend. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.66. This represents a $2.65 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date of this dividend is Wednesday, March 27th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is currently 26.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CM shares. Bank of America raised Canadian Imperial Bank of Commerce from an "underperform" rating to a "neutral" rating in a report on Monday, December 18th. Jefferies Financial Group started coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, February 22nd. They issued a "buy" rating for the company. National Bank Financial raised Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating in a report on Wednesday, December 20th. Barclays started coverage on Canadian Imperial Bank of Commerce in a research note on Wednesday, March 20th. They set an "underweight" rating for the company. Finally, Scotiabank upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to a "sector outperform" rating in a research report on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $63.00.

Canadian Imperial Bank of Commerce Company 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.