Canadian Imperial Bank of Commerce (NYSE:CM) is Toronto Dominion Bank’s 9th Largest Position

Toronto Dominion Bank decreased its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 15.6% during the third quarter, HoldingsChannel reports. The firm owned 21,903,927 shares of the bank’s stock after selling 4,037,850 shares during the period. Canadian Imperial Bank of Commerce makes up approximately 2.4% of Toronto Dominion Bank’s holdings, making the stock its 9th biggest holding. Toronto Dominion Bank’s holdings in Canadian Imperial Bank of Commerce were worth $1,343,587,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Lantz Financial LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 7.1% during the second quarter. Lantz Financial LLC now owns 5,824 shares of the bank’s stock valued at $277,000 after buying an additional 385 shares during the last quarter. Naples Global Advisors LLC lifted its position in Canadian Imperial Bank of Commerce by 2.4% in the second quarter. Naples Global Advisors LLC now owns 89,630 shares of the bank’s stock valued at $4,317,000 after purchasing an additional 2,143 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 136.3% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 12,252 shares of the bank’s stock valued at $582,000 after purchasing an additional 7,066 shares during the period. Nexus Investment Management ULC increased its stake in shares of Canadian Imperial Bank of Commerce by 0.7% in the second quarter. Nexus Investment Management ULC now owns 73,030 shares of the bank’s stock worth $3,470,000 after buying an additional 501 shares during the period. Finally, Raymond James Trust N.A. boosted its position in Canadian Imperial Bank of Commerce by 4.5% during the 2nd quarter. Raymond James Trust N.A. now owns 15,212 shares of the bank’s stock valued at $723,000 after buying an additional 662 shares during the period. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Trading Up 0.5 %

Shares of NYSE CM opened at $66.48 on Wednesday. The company has a market cap of $62.80 billion, a PE ratio of 12.43, a P/E/G ratio of 1.76 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The firm’s 50 day moving average price is $63.19 and its 200-day moving average price is $56.29. Canadian Imperial Bank of Commerce has a 52-week low of $42.59 and a 52-week high of $67.14.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be given a dividend of $0.6912 per share. The ex-dividend date is Friday, December 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. This represents a $2.76 annualized dividend and a dividend yield of 4.16%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 53.46%.

Analysts Set New Price Targets

A number of research firms have issued reports on CM. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research report on Friday, August 30th. BMO Capital Markets raised their price target on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $97.00 price target (up previously from $74.00) on shares of Canadian Imperial Bank of Commerce in a research report on Friday, December 6th. Cormark upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 30th. Finally, StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.00.

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.