Sanctuary Advisors LLC Sells 664 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Sanctuary Advisors LLC reduced its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 14.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,877 shares of the bank’s stock after selling 664 shares during the period. Sanctuary Advisors LLC’s holdings in Canadian Imperial Bank of Commerce were worth $247,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Allworth Financial LP boosted its holdings in shares of 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 buying an additional 805 shares during the period. Rhumbline Advisers boosted its holdings in shares of 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 buying an additional 404 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 buying an additional 150,789 shares during the period. Savant Capital LLC boosted its holdings in shares of 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 buying an additional 4,483 shares during the period. Finally, Cidel Asset Management Inc. raised its stake in Canadian Imperial Bank of Commerce by 8.9% during the 4th quarter. Cidel Asset Management Inc. now owns 448,789 shares of the bank’s stock valued at $28,375,000 after purchasing an additional 36,732 shares during the last quarter. 49.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Canadian Imperial Bank of Commerce Price Performance

NYSE:CM opened at $57.47 on Wednesday. The stock has a market cap of $54.15 billion, a P/E ratio of 10.74, a PEG ratio of 1.62 and a beta of 1.05. Canadian Imperial Bank of Commerce has a one year low of $46.50 and a one year high of $67.45. The company has a fifty day moving average price of $62.25 and a 200 day moving average price of $62.08. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be paid a $0.6723 dividend. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 47.67%.

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.