Vontobel Holding Ltd. Has $307,000 Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Vontobel Holding Ltd. trimmed its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 72.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,860 shares of the bank’s stock after selling 13,000 shares during the period. Vontobel Holding Ltd.’s holdings in Canadian Imperial Bank of Commerce were worth $307,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CM. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Canadian Imperial Bank of Commerce by 14.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,641,498 shares of the bank’s stock worth $652,676,000 after acquiring an additional 1,305,665 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in Canadian Imperial Bank of Commerce during the third quarter worth approximately $62,849,000. Public Sector Pension Investment Board grew its position in Canadian Imperial Bank of Commerce by 32.0% during the third quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank’s stock worth $228,043,000 after buying an additional 900,575 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Canadian Imperial Bank of Commerce by 23.3% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,187,106 shares of the bank’s stock valued at $195,561,000 after purchasing an additional 601,234 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of Canadian Imperial Bank of Commerce by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank’s stock valued at $696,659,000 after purchasing an additional 375,837 shares in the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CM has been the subject of a number of research reports. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock opened at $61.62 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a market cap of $58.07 billion, a P/E ratio of 11.52, a P/E/G ratio of 1.64 and a beta of 1.05. The company’s 50 day moving average price is $63.02 and its two-hundred day moving average price is $61.41. Canadian Imperial Bank of Commerce has a 52 week low of $46.02 and a 52 week high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 27th were issued a $0.6912 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date of this dividend was Friday, December 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. Canadian Imperial Bank of Commerce’s payout ratio is 51.22%.

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.