Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Principal Securities Inc.

Principal Securities Inc. trimmed its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 23.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,109 shares of the bank’s stock after selling 343 shares during the period. Principal Securities Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $70,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. CIBC Asset Management Inc lifted its stake 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 during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Canadian Imperial Bank of Commerce by 14.0% in the 3rd 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. JPMorgan Chase & Co. increased its holdings in Canadian Imperial Bank of Commerce by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank’s stock worth $359,320,000 after acquiring an additional 334,545 shares in the last quarter. Geode Capital Management LLC increased its holdings in Canadian Imperial Bank of Commerce by 8.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,245,235 shares of the bank’s stock worth $262,598,000 after acquiring an additional 336,854 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its holdings in Canadian Imperial Bank of Commerce by 32.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank’s stock worth $228,043,000 after acquiring an additional 900,575 shares in the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Trading Up 0.4 %

Shares of CM opened at $60.47 on Thursday. 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 has a 12-month low of $46.11 and a 12-month high of $67.45. The firm has a 50-day moving average price of $62.63 and a 200 day moving average price of $61.79. The firm has a market capitalization of $56.99 billion, a P/E ratio of 11.30, a P/E/G ratio of 1.62 and a beta of 1.05.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Investors of record on Friday, December 27th were issued a $0.6912 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.57%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 51.21%.

Analysts Set New Price Targets

CM has been the subject of a number of research reports. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average 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.