Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Naples Global Advisors LLC

Naples Global Advisors LLC decreased its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 9.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,030 shares of the bank’s stock after selling 8,333 shares during the period. Naples Global Advisors LLC’s holdings in Canadian Imperial Bank of Commerce were worth $5,111,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Canadian Imperial Bank of Commerce by 4.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank’s stock valued at $255,000 after buying an additional 194 shares during the last quarter. PDS Planning Inc lifted its stake in shares of Canadian Imperial Bank of Commerce by 4.7% during the 3rd quarter. PDS Planning Inc now owns 4,978 shares of the bank’s stock worth $305,000 after purchasing an additional 224 shares during the period. MML Investors Services LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce by 0.5% during the third 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 last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Canadian Imperial Bank of Commerce by 27.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,161 shares of the bank’s stock valued at $73,000 after purchasing an additional 250 shares during the period. Finally, Fifth Third Bancorp increased its stake in Canadian Imperial Bank of Commerce by 5.7% in the fourth quarter. Fifth Third Bancorp now owns 4,971 shares of the bank’s stock valued at $314,000 after purchasing an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Up 0.4 %

Shares of NYSE:CM opened at $61.72 on Thursday. Canadian Imperial Bank of Commerce has a 1 year low of $43.86 and a 1 year high of $67.45. The stock has a 50-day simple moving average of $63.62 and a 200-day simple moving average of $61.01. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $58.16 billion, a P/E ratio of 11.54, a PEG ratio of 1.64 and a beta of 1.05.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th were given a $0.6912 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.76 annualized dividend and a dividend yield of 4.48%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 51.21%.

Analyst Ratings Changes

CM has been the topic of a number of research analyst reports. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Tuesday, February 4th. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” 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.