Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Lincluden Management Ltd.

Lincluden Management Ltd. reduced its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 36.9% during the 4th quarter, HoldingsChannel reports. The fund owned 501,798 shares of the bank’s stock after selling 293,248 shares during the period. Canadian Imperial Bank of Commerce accounts for 3.8% of Lincluden Management Ltd.’s portfolio, making the stock its 9th biggest position. Lincluden Management Ltd.’s holdings in Canadian Imperial Bank of Commerce were worth $31,741,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of CM. Crews Bank & Trust purchased a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $25,000. IFP Advisors Inc raised its stake in shares of Canadian Imperial Bank of Commerce by 318.1% during the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock worth $34,000 after buying an additional 404 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter valued at approximately $44,000. Blue Trust Inc. grew its stake in Canadian Imperial Bank of Commerce by 571.6% in the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock valued at $45,000 after acquiring an additional 623 shares during the period. Finally, Versant Capital Management Inc increased its holdings in Canadian Imperial Bank of Commerce by 1,069.4% in the 4th quarter. Versant Capital Management Inc now owns 725 shares of the bank’s stock worth $46,000 after acquiring an additional 663 shares in the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Up 0.4 %

NYSE CM opened at $61.09 on Tuesday. 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 business has a fifty day moving average price of $62.82 and a 200 day moving average price of $61.73. The company has a market cap of $57.57 billion, a P/E ratio of 11.42, a P/E/G ratio of 1.62 and a beta of 1.05.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th were issued a $0.6912 dividend. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. This represents a $2.76 annualized dividend and a yield of 4.53%. The ex-dividend date was Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 51.22%.

Analysts Set New Price Targets

Several equities analysts have issued reports on CM shares. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $92.00.

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.