Global Retirement Partners LLC Sells 436 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Global Retirement Partners LLC reduced its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 25.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,265 shares of the bank’s stock after selling 436 shares during the period. Global Retirement Partners LLC’s holdings in Canadian Imperial Bank of Commerce were worth $80,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Lorne Steinberg Wealth Management Inc. lifted its stake in shares of Canadian Imperial Bank of Commerce by 1.1% during the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 161,334 shares of the bank’s stock worth $10,195,000 after acquiring an additional 1,740 shares during the last quarter. Allworth Financial LP increased its holdings in Canadian Imperial Bank of Commerce by 255.6% during the 4th quarter. Allworth Financial LP now owns 1,120 shares of the bank’s stock worth $71,000 after purchasing an additional 805 shares during the period. Rhumbline Advisers increased its holdings in Canadian Imperial Bank of Commerce by 12.6% during the 4th quarter. Rhumbline Advisers now owns 3,622 shares of the bank’s stock worth $229,000 after purchasing an additional 404 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Canadian Imperial Bank of Commerce by 195.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 227,989 shares of the bank’s stock worth $14,404,000 after purchasing an additional 150,789 shares during the period. Finally, Savant Capital LLC increased its holdings in Canadian Imperial Bank of Commerce by 38.7% during the 4th quarter. Savant Capital LLC now owns 16,053 shares of the bank’s stock worth $1,015,000 after purchasing an additional 4,483 shares during the period. 49.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report 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 price objective for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Trading Up 1.1 %

Shares of NYSE:CM opened at $60.55 on Friday. Canadian Imperial Bank of Commerce has a 12-month low of $46.50 and a 12-month high of $67.45. The business’s fifty day simple moving average is $62.48 and its 200-day simple moving average is $61.84. The company has a market capitalization of $57.06 billion, a PE ratio of 11.32, a P/E/G ratio of 1.62 and a beta of 1.05. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be issued a $0.6723 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.44%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 51.21%.

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.