Stephens Inc. AR Trims Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Stephens Inc. AR cut its stake in Canadian Imperial Bank of Commerce (NYSE:CMFree Report) (TSE:CM) by 5.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,134 shares of the bank’s stock after selling 1,399 shares during the period. Stephens Inc. AR’s holdings in Canadian Imperial Bank of Commerce were worth $1,114,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Canadian Imperial Bank of Commerce by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 33,841,855 shares of the bank’s stock valued at $1,306,634,000 after acquiring an additional 544,942 shares during the period. Toronto Dominion Bank increased its stake in shares of Canadian Imperial Bank of Commerce by 1.8% during the 3rd quarter. Toronto Dominion Bank now owns 26,965,878 shares of the bank’s stock worth $1,041,153,000 after purchasing an additional 476,342 shares in the last quarter. Bank of Nova Scotia increased its stake in shares of Canadian Imperial Bank of Commerce by 8.1% during the 4th quarter. Bank of Nova Scotia now owns 24,915,095 shares of the bank’s stock worth $1,199,627,000 after purchasing an additional 1,872,709 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Canadian Imperial Bank of Commerce by 13.8% during the 4th quarter. TD Asset Management Inc now owns 22,550,346 shares of the bank’s stock worth $1,091,089,000 after purchasing an additional 2,730,076 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in Canadian Imperial Bank of Commerce by 12.8% in the 4th quarter. CIBC Asset Management Inc now owns 11,601,044 shares of the bank’s stock worth $560,365,000 after acquiring an additional 1,313,996 shares during the period. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM opened at $48.99 on Monday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.15. Canadian Imperial Bank of Commerce has a fifty-two week low of $34.35 and a fifty-two week high of $51.14. The firm has a 50-day simple moving average of $48.61 and a 200 day simple moving average of $47.12. The company has a market cap of $46.20 billion, a PE ratio of 10.08, a P/E/G ratio of 1.93 and a beta of 1.06.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be given a dividend of $0.653 per share. This represents a $2.61 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date of this dividend is Friday, June 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 53.70%.

Analyst Upgrades and Downgrades

CM has been the subject of several recent analyst reports. Barclays started coverage on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, March 20th. They issued an “underweight” rating for the company. Jefferies Financial Group started coverage on shares of Canadian Imperial Bank of Commerce in a report on Thursday, February 22nd. They issued a “buy” rating on the stock. Keefe, Bruyette & Woods upgraded shares of Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a report on Monday, June 3rd. Scotiabank upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a report on Tuesday, February 20th. Finally, BMO Capital Markets lifted their target price on shares of Canadian Imperial Bank of Commerce from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and a consensus price target of $67.00.

View Our Latest Stock Report on CM

About Canadian Imperial Bank of Commerce

(Free Report)

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.

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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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