Canadian Imperial Bank of Commerce (NYSE:CM) Stock Position Decreased by Candriam S.C.A.

Candriam S.C.A. trimmed its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 279,333 shares of the bank’s stock after selling 17,369 shares during the period. Candriam S.C.A.’s holdings in Canadian Imperial Bank of Commerce were worth $17,661,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CM. Raymond James Financial Inc. acquired a new stake in Canadian Imperial Bank of Commerce during the 4th quarter worth about $24,997,000. Assetmark Inc. increased its position in shares of Canadian Imperial Bank of Commerce by 185.8% in the fourth quarter. Assetmark Inc. now owns 83,413 shares of the bank’s stock worth $5,274,000 after acquiring an additional 54,232 shares in the last quarter. NewSquare Capital LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $5,850,000. Charles Schwab Investment Management Inc. lifted its position in shares of Canadian Imperial Bank of Commerce by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,526,773 shares of the bank’s stock valued at $159,759,000 after acquiring an additional 7,794 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in Canadian Imperial Bank of Commerce by 1,307.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 788 shares of the bank’s stock worth $50,000 after purchasing an additional 732 shares during the period. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Trading Down 2.4 %

Shares of NYSE:CM opened at $56.80 on Friday. Canadian Imperial Bank of Commerce has a 12-month low of $46.50 and a 12-month 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. The firm has a market capitalization of $53.53 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07. The firm has a fifty day moving average of $61.97 and a two-hundred day moving average of $62.02.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be paid a $0.6723 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a yield of 4.73%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 48.03%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CM. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and a consensus price target 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.