Aigen Investment Management LP Sells 5,718 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Aigen Investment Management LP cut its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 29.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,796 shares of the bank’s stock after selling 5,718 shares during the period. Aigen Investment Management LP’s holdings in Canadian Imperial Bank of Commerce were worth $873,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CM. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Canadian Imperial Bank of Commerce in the 3rd quarter worth about $243,000. US Bancorp DE increased its holdings in shares of Canadian Imperial Bank of Commerce by 6.3% in the 3rd quarter. US Bancorp DE now owns 15,280 shares of the bank’s stock worth $937,000 after buying an additional 906 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Canadian Imperial Bank of Commerce by 31.3% in the 3rd quarter. Van ECK Associates Corp now owns 205,124 shares of the bank’s stock worth $12,873,000 after buying an additional 48,843 shares during the last quarter. Gold Investment Management Ltd. boosted its stake in shares of Canadian Imperial Bank of Commerce by 0.7% during the 3rd quarter. Gold Investment Management Ltd. now owns 54,225 shares of the bank’s stock worth $3,326,000 after purchasing an additional 387 shares during the period. Finally, Fiera Capital Corp boosted its stake in shares of Canadian Imperial Bank of Commerce by 2.1% during the 3rd quarter. Fiera Capital Corp now owns 36,881 shares of the bank’s stock worth $2,265,000 after purchasing an additional 772 shares during the period. 49.88% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on CM shares. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $97.00 to $103.00 in a research note 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. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock opened at $58.19 on Thursday. The stock has a market cap of $54.84 billion, a price-to-earnings ratio of 10.88, a price-to-earnings-growth 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. Canadian Imperial Bank of Commerce has a 1 year low of $46.50 and a 1 year high of $67.45. The firm has a 50-day moving average of $62.13 and a two-hundred day moving average of $62.06.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be given a $0.6723 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.69 annualized dividend and a yield of 4.62%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 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.