Assenagon Asset Management S.A. Sells 2,603 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Assenagon Asset Management S.A. cut its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,766 shares of the bank’s stock after selling 2,603 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Canadian Imperial Bank of Commerce were worth $4,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of CM. BNP Paribas Financial Markets purchased a new position in shares of Canadian Imperial Bank of Commerce during the third quarter valued at approximately $44,000. Versant Capital Management Inc lifted its holdings in shares of Canadian Imperial Bank of Commerce by 1,069.4% during the fourth quarter. Versant Capital Management Inc now owns 725 shares of the bank’s stock valued at $46,000 after purchasing an additional 663 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 571.6% during the third quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock valued at $45,000 after purchasing an additional 623 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Canadian Imperial Bank of Commerce by 23.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock valued at $56,000 after purchasing an additional 171 shares during the last quarter. Finally, City State Bank purchased a new position in shares of Canadian Imperial Bank of Commerce during the third quarter valued at approximately $61,000. 49.88% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CM shares. StockNews.com lowered shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Monday, January 6th. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE CM opened at $62.61 on Tuesday. The firm has a market cap of $59.00 billion, a P/E ratio of 11.70, a PEG ratio of 1.64 and a beta of 1.06. 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 company has a 50 day moving average of $64.22 and a 200 day moving average of $59.44. Canadian Imperial Bank of Commerce has a twelve month low of $43.86 and a twelve month high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.6912 per share. The ex-dividend date is Friday, December 27th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. This represents a $2.76 dividend on an annualized basis and a yield of 4.42%. Canadian Imperial Bank of Commerce’s payout ratio is currently 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.