Orion Portfolio Solutions LLC Decreases Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Orion Portfolio Solutions LLC reduced its holdings in Canadian Imperial Bank of Commerce (NYSE:CMFree Report) (TSE:CM) by 28.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 9,229 shares of the bank’s stock after selling 3,747 shares during the period. Orion Portfolio Solutions LLC’s holdings in Canadian Imperial Bank of Commerce were worth $443,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bruce G. Allen Investments LLC purchased a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth about $33,000. Janiczek Wealth Management LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 34.9% in the fourth quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank’s stock worth $41,000 after buying an additional 222 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 574.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,066 shares of the bank’s stock worth $51,000 after buying an additional 908 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth about $64,000. Finally, Hexagon Capital Partners LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 152.9% in the fourth quarter. Hexagon Capital Partners LLC now owns 1,692 shares of the bank’s stock worth $81,000 after buying an additional 1,023 shares in the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on CM. Jefferies Financial Group started coverage on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, February 22nd. They issued a “buy” rating on the stock. Keefe, Bruyette & Woods raised shares of Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a research note on Monday. Scotiabank raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a research note on Tuesday, February 20th. BMO Capital Markets lifted their target price on shares of Canadian Imperial Bank of Commerce from $74.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, May 31st. Finally, Barclays started coverage on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, March 20th. They set an “underweight” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and a consensus target price of $67.00.

View Our Latest Stock Report on CM

Canadian Imperial Bank of Commerce Price Performance

Shares of CM opened at $49.23 on Friday. Canadian Imperial Bank of Commerce has a 1-year low of $34.35 and a 1-year high of $51.14. The stock has a market cap of $46.42 billion, a PE ratio of 10.13, a P/E/G ratio of 1.95 and a beta of 1.06. The firm has a 50-day simple moving average of $48.64 and a two-hundred day simple moving average of $46.94. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.06 and a quick ratio of 1.06.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 29th. Shareholders of record on Friday, June 28th will be given a dividend of $0.653 per share. This represents a $2.61 dividend on an annualized basis and a dividend yield of 5.31%. The ex-dividend date is Friday, June 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 54.53%.

Canadian Imperial Bank of Commerce Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding CM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Imperial Bank of Commerce (NYSE:CMFree Report) (TSE:CM).

Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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