Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors lessened its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,059 shares of the bank’s stock after selling 511 shares during the period. Captrust Financial Advisors’ holdings in Canadian Imperial Bank of Commerce were worth $617,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Public Sector Pension Investment Board raised its position in shares of Canadian Imperial Bank of Commerce by 32.0% in 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. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Canadian Imperial Bank of Commerce by 51.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 570,008 shares of the bank’s stock valued at $35,003,000 after purchasing an additional 192,753 shares during the period. Bridgewater Associates LP purchased a new stake in Canadian Imperial Bank of Commerce in the third quarter valued at approximately $601,000. BNP Paribas Financial Markets purchased a new stake in Canadian Imperial Bank of Commerce in the third quarter valued at approximately $44,000. Finally, FMR LLC grew its holdings in Canadian Imperial Bank of Commerce by 3.3% in the third quarter. FMR LLC now owns 2,106,913 shares of the bank’s stock valued at $129,239,000 after purchasing an additional 67,480 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CM. BMO Capital Markets boosted their price objective on shares of Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Cormark upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 30th. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research note on Friday, August 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $97.00 price objective (up from $74.00) on shares of Canadian Imperial Bank of Commerce in a research note on Friday, December 6th. Finally, StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.00.

Canadian Imperial Bank of Commerce Stock Up 1.2 %

Shares of NYSE:CM opened at $67.30 on Thursday. The stock has a market capitalization of $63.57 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 1.76 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 1-year low of $42.59 and a 1-year high of $67.45. The company’s fifty day moving average is $63.32 and its two-hundred day moving average is $56.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th will be given a dividend of $0.6912 per share. The ex-dividend date is Friday, December 27th. This represents a $2.76 annualized dividend and a dividend yield of 4.11%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 53.46%.

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.