Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by AGF Management Ltd.

AGF Management Ltd. reduced its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 0.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 70,805 shares of the bank’s stock after selling 338 shares during the quarter. AGF Management Ltd.’s holdings in Canadian Imperial Bank of Commerce were worth $4,918,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of CM. Wealth Enhancement Advisory Services LLC increased its stake in shares of Canadian Imperial Bank of Commerce by 4.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank’s stock worth $255,000 after acquiring an additional 194 shares during the period. Mesirow Financial Investment Management Inc. boosted its holdings in Canadian Imperial Bank of Commerce by 0.7% in the 4th quarter. Mesirow Financial Investment Management Inc. now owns 33,094 shares of the bank’s stock valued at $2,092,000 after purchasing an additional 222 shares in the last quarter. MML Investors Services LLC increased its position in Canadian Imperial Bank of Commerce by 0.5% during the 3rd quarter. MML Investors Services LLC now owns 44,008 shares of the bank’s stock worth $2,699,000 after purchasing an additional 237 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in Canadian Imperial Bank of Commerce by 27.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,161 shares of the bank’s stock worth $73,000 after purchasing an additional 250 shares during the period. Finally, Fifth Third Bancorp raised its stake in shares of Canadian Imperial Bank of Commerce by 5.7% during the 4th quarter. Fifth Third Bancorp now owns 4,971 shares of the bank’s stock worth $314,000 after buying an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Up 1.1 %

CM stock opened at $55.97 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The company’s 50 day simple moving average is $61.39 and its 200-day simple moving average is $62.14. Canadian Imperial Bank of Commerce has a 12 month low of $46.50 and a 12 month high of $67.45. The firm has a market capitalization of $52.74 billion, a PE ratio of 10.46, a P/E/G ratio of 1.62 and a beta of 1.07.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be given a $0.6723 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.69 annualized dividend and a dividend yield of 4.81%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 48.03%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CM shares. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research 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 MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and an average target price 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.