DORCHESTER WEALTH MANAGEMENT Co Decreases Position in Canadian Imperial Bank of Commerce (NYSE:CM)

DORCHESTER WEALTH MANAGEMENT Co lowered its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,601 shares of the bank’s stock after selling 1,000 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Canadian Imperial Bank of Commerce were worth $1,934,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. CIBC Asset Management Inc grew its position in shares of Canadian Imperial Bank of Commerce by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank’s stock valued at $696,659,000 after purchasing an additional 375,837 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Canadian Imperial Bank of Commerce by 14.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,641,498 shares of the bank’s stock worth $652,676,000 after purchasing an additional 1,305,665 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Canadian Imperial Bank of Commerce by 6.1% in the third quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank’s stock worth $359,320,000 after purchasing an additional 334,545 shares during the last quarter. Geode Capital Management LLC raised its stake 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 acquiring an additional 336,854 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its stake 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 acquiring an additional 900,575 shares during the last quarter. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Trading Down 1.3 %

NYSE:CM opened at $60.81 on Friday. The firm has a market cap of $57.31 billion, a P/E ratio of 11.37, a P/E/G ratio of 1.62 and a beta of 1.05. Canadian Imperial Bank of Commerce has a one year low of $46.11 and a one year 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. The firm has a 50-day simple moving average of $62.92 and a 200-day simple moving average of $61.57.

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 issued a $0.6912 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. This represents a $2.76 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend was Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 51.22%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. 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 target for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.