Verdence Capital Advisors LLC Sells 332 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Verdence Capital Advisors LLC trimmed its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,503 shares of the bank’s stock after selling 332 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Canadian Imperial Bank of Commerce were worth $746,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Bruce G. Allen Investments LLC bought a new position in Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $33,000. Janiczek Wealth Management LLC boosted its stake in Canadian Imperial Bank of Commerce by 34.9% in the 4th quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank’s stock worth $41,000 after purchasing an additional 222 shares during the period. NewEdge Advisors LLC raised its stake in shares of Canadian Imperial Bank of Commerce by 277.9% in the 1st quarter. NewEdge Advisors LLC now owns 1,126 shares of the bank’s stock valued at $48,000 after purchasing an additional 828 shares during the period. CENTRAL TRUST Co lifted its holdings in shares of Canadian Imperial Bank of Commerce by 77.8% in the third quarter. CENTRAL TRUST Co now owns 1,600 shares of the bank’s stock valued at $70,000 after purchasing an additional 700 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth about $110,000. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at $47.57 on Monday. The stock has a market cap of $44.60 billion, a price-to-earnings ratio of 9.83, a P/E/G ratio of 2.23 and a beta of 1.06. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05. The company has a 50 day simple moving average of $48.43 and a 200 day simple moving average of $44.36. Canadian Imperial Bank of Commerce has a 1 year low of $34.35 and a 1 year high of $51.14.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, February 29th. The bank reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.10. Canadian Imperial Bank of Commerce had a net margin of 10.79% and a return on equity of 13.07%. The company had revenue of $4.60 billion during the quarter, compared to the consensus estimate of $4.47 billion. Research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.04 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.6634 per share. This represents a $2.65 dividend on an annualized basis and a dividend yield of 5.58%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 26.45%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Jefferies Financial Group assumed coverage on Canadian Imperial Bank of Commerce in a research report on Thursday, February 22nd. They set a “buy” rating for the company. Scotiabank raised Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a report on Tuesday, February 20th. Finally, Barclays initiated coverage on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, March 20th. They issued an “underweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

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.