Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lessened its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 4.9% in the fourth quarter, Holdings Channel reports. The firm owned 188,795 shares of the bank’s stock after selling 9,769 shares during the period. Crossmark Global Holdings Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $11,937,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CM. BNP Paribas Financial Markets purchased a new stake in Canadian Imperial Bank of Commerce during the 3rd quarter worth $44,000. Blue Trust Inc. boosted its position in Canadian Imperial Bank of Commerce by 571.6% in the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock valued at $45,000 after buying an additional 623 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Canadian Imperial Bank of Commerce by 1,069.4% during the fourth quarter. Versant Capital Management Inc now owns 725 shares of the bank’s stock valued at $46,000 after acquiring an additional 663 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Canadian Imperial Bank of Commerce by 23.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock worth $56,000 after acquiring an additional 171 shares during the last quarter. Finally, City State Bank acquired a new position in shares of Canadian Imperial Bank of Commerce in the third quarter worth about $61,000. 49.88% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CM shares. StockNews.com downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Monday, January 6th. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $92.00.

Canadian Imperial Bank of Commerce Stock Down 0.2 %

Shares of Canadian Imperial Bank of Commerce stock opened at $62.61 on Tuesday. Canadian Imperial Bank of Commerce has a twelve month low of $43.86 and a twelve month high of $67.45. The stock has a market capitalization of $59.00 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 1.65 and a beta of 1.06. 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 50 day simple moving average is $64.22 and its 200-day simple moving average is $59.44.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be paid a $0.6912 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.76 annualized dividend and a dividend yield of 4.42%. 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 (DPR) is presently 51.22%.

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.