Captrust Financial Advisors Decreases Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Captrust Financial Advisors reduced its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 40.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,032 shares of the bank’s stock after selling 4,027 shares during the period. Captrust Financial Advisors’ holdings in Canadian Imperial Bank of Commerce were worth $381,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Crews Bank & Trust bought a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth approximately $25,000. Operose Advisors LLC bought a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $26,000. SBI Securities Co. Ltd. purchased a new stake in Canadian Imperial Bank of Commerce in the fourth quarter worth $30,000. Sandy Spring Bank bought a new position in Canadian Imperial Bank of Commerce in the fourth quarter worth $32,000. Finally, IFP Advisors Inc raised its holdings in Canadian Imperial Bank of Commerce by 318.1% in the fourth quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock worth $34,000 after purchasing an additional 404 shares in the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Trading Up 1.1%

Canadian Imperial Bank of Commerce stock opened at $67.09 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The business’s fifty day simple moving average is $59.61 and its two-hundred day simple moving average is $61.75. Canadian Imperial Bank of Commerce has a 12 month low of $46.99 and a 12 month high of $67.45. The company has a market capitalization of $63.07 billion, a price-to-earnings ratio of 12.54, a price-to-earnings-growth ratio of 1.62 and a beta of 1.06.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, March 28th were issued a $0.6723 dividend. This represents a $2.69 annualized dividend and a yield of 4.01%. The ex-dividend date was Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 48.03%.

Analyst Ratings Changes

CM has been the subject of a number of research reports. Scotiabank initiated coverage on Canadian Imperial Bank of Commerce in a report on Thursday, May 15th. They issued a “sector outperform” rating for the company. Jefferies Financial Group downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Monday, April 21st. Finally, StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $92.00.

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.