Avantax Advisory Services Inc. Sells 599 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Avantax Advisory Services Inc. cut its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,598 shares of the bank’s stock after selling 599 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $1,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Jupiter Asset Management Ltd. purchased a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth $36,733,000. Sequoia Financial Advisors LLC raised its holdings in shares of Canadian Imperial Bank of Commerce by 7.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 3,977 shares of the bank’s stock valued at $251,000 after acquiring an additional 279 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at about $205,000. Mesirow Financial Investment Management Inc. grew its holdings in shares of Canadian Imperial Bank of Commerce by 0.7% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 33,094 shares of the bank’s stock worth $2,092,000 after purchasing an additional 222 shares in the last quarter. Finally, Andra AP fonden increased its position in shares of Canadian Imperial Bank of Commerce by 73.5% in the fourth quarter. Andra AP fonden now owns 182,700 shares of the bank’s stock worth $11,552,000 after purchasing an additional 77,400 shares during the last quarter. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Price Performance

Shares of Canadian Imperial Bank of Commerce stock opened at $56.76 on Wednesday. The stock has a market capitalization of $53.36 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07. The company has a fifty day moving average of $60.87 and a 200-day moving average of $62.19. Canadian Imperial Bank of Commerce has a 52-week low of $46.50 and a 52-week high of $67.45. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.6723 per share. The ex-dividend date is Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.74%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 48.03%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. 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. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $92.00.

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.