Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC cut its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 33.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,541 shares of the bank’s stock after selling 2,267 shares during the period. Sanctuary Advisors LLC’s holdings in Canadian Imperial Bank of Commerce were worth $297,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Toronto Dominion Bank raised its position in Canadian Imperial Bank of Commerce by 17.9% during the second quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank’s stock worth $1,233,272,000 after acquiring an additional 3,942,894 shares during the period. Public Sector Pension Investment Board raised its position in shares of Canadian Imperial Bank of Commerce by 32.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank’s stock worth $228,043,000 after purchasing an additional 900,575 shares during the last quarter. Legal & General Group Plc lifted its stake in Canadian Imperial Bank of Commerce by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 7,213,860 shares of the bank’s stock valued at $342,946,000 after buying an additional 228,130 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in Canadian Imperial Bank of Commerce by 140.6% in the 3rd quarter. Ritholtz Wealth Management now owns 14,308 shares of the bank’s stock worth $878,000 after buying an additional 8,362 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in Canadian Imperial Bank of Commerce by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank’s stock worth $696,659,000 after buying an additional 375,837 shares in the last quarter. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CM shares. StockNews.com upgraded 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 reaffirmed a “sector perform” rating and set a $97.00 target price (up previously from $74.00) on shares of Canadian Imperial Bank of Commerce in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $89.00.

Canadian Imperial Bank of Commerce Stock Performance

NYSE CM opened at $62.89 on Friday. 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 stock’s fifty day moving average is $64.37 and its two-hundred day moving average is $57.81. The firm has a market capitalization of $59.41 billion, a P/E ratio of 11.76, a price-to-earnings-growth ratio of 1.78 and a beta of 1.06. Canadian Imperial Bank of Commerce has a fifty-two week low of $43.86 and a fifty-two week high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be issued a $0.6912 dividend. The ex-dividend date is Friday, December 27th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.40%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. Canadian Imperial Bank of Commerce’s dividend 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.