Barclays PLC Has $1.48 Million Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Barclays PLC trimmed its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 2.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV grew its holdings in Canadian Imperial Bank of Commerce by 23.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock worth $56,000 after acquiring an additional 171 shares during the period. PDS Planning Inc grew its holdings in Canadian Imperial Bank of Commerce by 4.7% during the 3rd quarter. PDS Planning Inc now owns 4,978 shares of the bank’s stock worth $305,000 after acquiring an additional 224 shares during the period. MML Investors Services LLC grew its holdings in Canadian Imperial Bank of Commerce by 0.5% during the 3rd quarter. MML Investors Services LLC now owns 44,008 shares of the bank’s stock worth $2,699,000 after acquiring an additional 237 shares during the period. Prospera Private Wealth LLC grew its holdings in Canadian Imperial Bank of Commerce by 3.2% during the 3rd quarter. Prospera Private Wealth LLC now owns 10,486 shares of the bank’s stock worth $643,000 after acquiring an additional 330 shares during the period. Finally, First Bank & Trust grew its holdings in Canadian Imperial Bank of Commerce by 0.8% during the 3rd quarter. First Bank & Trust now owns 41,646 shares of the bank’s stock worth $2,555,000 after acquiring an additional 351 shares during the period. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock opened at $62.06 on Monday. Canadian Imperial Bank of Commerce has a 12 month low of $43.86 and a 12 month high of $67.45. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The business’s 50 day simple moving average is $64.38 and its 200 day simple moving average is $58.94. The company has a market cap of $58.49 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 1.78 and a beta of 1.06.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.6912 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date is Friday, December 27th. This represents a $2.76 dividend on an annualized basis and a yield of 4.45%. Canadian Imperial Bank of Commerce’s payout ratio is presently 51.21%.

Analyst Ratings Changes

A number of analysts recently commented on CM shares. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com lowered Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Monday, January 6th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus 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.