UniSuper Management Pty Ltd Cuts Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

UniSuper Management Pty Ltd trimmed its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 21.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,000 shares of the bank’s stock after selling 4,900 shares during the period. UniSuper Management Pty Ltd’s holdings in Canadian Imperial Bank of Commerce were worth $1,138,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its stake in Canadian Imperial Bank of Commerce by 37.3% in the 4th quarter. JPMorgan Chase & Co. now owns 8,043,106 shares of the bank’s stock worth $508,566,000 after purchasing an additional 2,185,262 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in shares of Canadian Imperial Bank of Commerce in the third quarter worth about $62,849,000. TD Asset Management Inc. lifted its position in shares of Canadian Imperial Bank of Commerce by 3.7% in the fourth quarter. TD Asset Management Inc. now owns 23,600,495 shares of the bank’s stock worth $1,492,138,000 after buying an additional 851,164 shares in the last quarter. Vanguard Group Inc. boosted its stake in Canadian Imperial Bank of Commerce by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 39,385,238 shares of the bank’s stock valued at $2,491,431,000 after buying an additional 749,843 shares during the last quarter. Finally, Alberta Investment Management Corp grew its holdings in Canadian Imperial Bank of Commerce by 74.4% during the 4th quarter. Alberta Investment Management Corp now owns 1,572,963 shares of the bank’s stock valued at $99,450,000 after buying an additional 671,028 shares in the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

NYSE:CM opened at $56.27 on Tuesday. The firm has a market capitalization of $52.89 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 1.62 and a beta of 1.07. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The business has a 50 day simple moving average of $59.90 and a 200-day simple moving average of $62.03. Canadian Imperial Bank of Commerce has a 1 year low of $46.50 and a 1 year high of $67.45.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be given 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 4.78%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 48.03%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CM. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. 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. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.00.

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.