Barclays PLC Sells 719 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Barclays PLC cut its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 2.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,173 shares of the bank’s stock after selling 719 shares during the period. Barclays PLC’s holdings in Canadian Imperial Bank of Commerce were worth $1,484,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 3rd quarter valued at about $44,000. Blue Trust Inc. raised its position in Canadian Imperial Bank of Commerce by 571.6% during the third quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock valued at $45,000 after purchasing an additional 623 shares during the period. Massmutual Trust Co. FSB ADV lifted its stake in shares of Canadian Imperial Bank of Commerce by 23.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock valued at $56,000 after purchasing an additional 171 shares during the last quarter. City State Bank purchased a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter worth approximately $61,000. Finally, Ninepoint Partners LP purchased a new position in shares of Canadian Imperial Bank of Commerce in the 2nd quarter worth approximately $97,000. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Wall Street Analyst Weigh In

CM has been the topic of a number of recent analyst reports. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday, December 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $97.00 price target (up from $74.00) on shares of Canadian Imperial Bank of Commerce in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $89.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM opened at $62.89 on Friday. The company has a 50 day moving average of $64.37 and a two-hundred day moving average of $57.81. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a twelve month low of $43.86 and a twelve month high of $67.45. The company has a market cap of $59.41 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 1.78 and a beta of 1.06.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be given a dividend of $0.6912 per share. This represents a $2.76 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Friday, December 27th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. Canadian Imperial Bank of Commerce’s payout ratio is currently 53.46%.

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.