Canadian Imperial Bank of Commerce (NYSE:CM) Holdings Lowered by VAUGHAN & Co SECURITIES INC.

VAUGHAN & Co SECURITIES INC. cut its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,950 shares of the bank’s stock after selling 205 shares during the period. VAUGHAN & Co SECURITIES INC.’s holdings in Canadian Imperial Bank of Commerce were worth $503,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Public Sector Pension Investment Board grew its stake in shares of 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 purchasing an additional 900,575 shares during the last quarter. Ritholtz Wealth Management raised its stake in shares of Canadian Imperial Bank of Commerce by 140.6% during the 3rd quarter. Ritholtz Wealth Management now owns 14,308 shares of the bank’s stock worth $878,000 after purchasing an additional 8,362 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Canadian Imperial Bank of Commerce by 3.4% in the third quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank’s stock worth $696,659,000 after purchasing an additional 375,837 shares in the last quarter. Atlanta Consulting Group Advisors LLC bought a new stake in Canadian Imperial Bank of Commerce during the 3rd quarter valued at approximately $671,000. Finally, FMR LLC grew its stake in shares of Canadian Imperial Bank of Commerce by 3.3% in the third quarter. FMR LLC now owns 2,106,913 shares of the bank’s stock worth $129,239,000 after acquiring an additional 67,480 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $92.00.

Canadian Imperial Bank of Commerce Stock Up 0.1 %

CM opened at $61.67 on Thursday. Canadian Imperial Bank of Commerce has a 12 month low of $43.86 and a 12 month high of $67.45. The company has a market cap of $58.12 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 1.66 and a beta of 1.05. 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 company has a 50 day moving average of $63.88 and a 200 day moving average of $60.62.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th were issued a $0.6912 dividend. 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 dividend yield of 4.48%. The ex-dividend date was Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 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.