US Bancorp DE Has $792,000 Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

US Bancorp DE decreased its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 18.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,522 shares of the bank’s stock after selling 2,758 shares during the period. US Bancorp DE’s holdings in Canadian Imperial Bank of Commerce were worth $792,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. CIBC Asset Management Inc raised its holdings in Canadian Imperial Bank of Commerce by 3.4% during the third quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank’s stock worth $696,659,000 after buying an additional 375,837 shares during the last quarter. 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 buying an additional 1,305,665 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Canadian Imperial Bank of Commerce by 6.1% during the third quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank’s stock worth $359,320,000 after buying an additional 334,545 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Canadian Imperial Bank of Commerce by 8.6% in the third quarter. Geode Capital Management LLC now owns 4,245,235 shares of the bank’s stock valued at $262,598,000 after purchasing an additional 336,854 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in shares of Canadian Imperial Bank of Commerce by 32.0% in the third quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank’s stock valued at $228,043,000 after purchasing an additional 900,575 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

CM opened at $55.66 on Tuesday. The firm has a market cap of $52.45 billion, a P/E ratio of 10.40, a PEG ratio of 1.62 and a beta of 1.07. The firm has a 50-day moving average of $61.69 and a 200 day moving average of $62.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. Canadian Imperial Bank of Commerce has a fifty-two week low of $46.50 and a fifty-two week high of $67.45.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be given a dividend of $0.6723 per share. The ex-dividend date is Friday, March 28th. This represents a $2.69 annualized dividend and a yield of 4.83%. Canadian Imperial Bank of Commerce’s payout ratio is currently 48.03%.

Analysts Set New Price Targets

Several brokerages have recently commented on CM. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.