Tobam Decreases Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Tobam reduced its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 71.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,586 shares of the bank’s stock after selling 3,984 shares during the period. Tobam’s holdings in Canadian Imperial Bank of Commerce were worth $100,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position in 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 worth $255,000 after acquiring an additional 194 shares in the last quarter. PDS Planning Inc boosted its holdings in shares of Canadian Imperial Bank of Commerce by 4.7% in 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 increased its position in shares of 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 valued at $2,699,000 after purchasing an additional 237 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings 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 valued at $73,000 after buying an additional 250 shares during the period. Finally, Fifth Third Bancorp lifted its position 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 worth $314,000 after buying an additional 270 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CM shares. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and boosted 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 Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.00.

Canadian Imperial Bank of Commerce Stock Up 0.6 %

NYSE:CM opened at $62.30 on Friday. The company has a market cap of $58.71 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 1.66 and a beta of 1.05. Canadian Imperial Bank of Commerce has a twelve month low of $43.86 and a twelve month high of $67.45. 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 stock has a fifty day simple moving average of $63.76 and a 200-day simple moving average of $60.63.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th were given a $0.6912 dividend. This represents a $2.76 annualized dividend and a yield of 4.44%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Friday, December 27th. Canadian Imperial Bank of Commerce’s payout ratio is 51.22%.

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.