Amundi Sells 684,721 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Amundi trimmed its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 25.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,964,957 shares of the bank’s stock after selling 684,721 shares during the period. Amundi owned approximately 0.21% of Canadian Imperial Bank of Commerce worth $124,079,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CM. CIBC Asset Management Inc raised its position in shares of Canadian Imperial Bank of Commerce by 3.4% during the third quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank’s stock valued at $696,659,000 after buying an additional 375,837 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Canadian Imperial Bank of Commerce by 14.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,641,498 shares of the bank’s stock valued at $652,676,000 after buying an additional 1,305,665 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Canadian Imperial Bank of Commerce by 6.1% during the third quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank’s stock valued at $359,320,000 after buying an additional 334,545 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Canadian Imperial Bank of Commerce by 8.6% during the third quarter. Geode Capital Management LLC now owns 4,245,235 shares of the bank’s stock valued at $262,598,000 after buying an additional 336,854 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its position in shares of Canadian Imperial Bank of Commerce by 32.0% during the third quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank’s stock valued at $228,043,000 after buying an additional 900,575 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Stock Performance

NYSE:CM opened at $55.66 on Tuesday. Canadian Imperial Bank of Commerce has a 12-month low of $46.50 and a 12-month high of $67.45. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $52.45 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07. The firm has a 50-day moving average price of $61.69 and a 200 day moving average price of $62.18.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.6723 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.69 annualized dividend and a yield of 4.83%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 48.03%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and a consensus 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.