Rathbones Group PLC Has $6.69 Million Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Rathbones Group PLC decreased its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 6.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 105,748 shares of the bank’s stock after selling 7,600 shares during the quarter. Rathbones Group PLC’s holdings in Canadian Imperial Bank of Commerce were worth $6,685,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BNP Paribas Financial Markets acquired a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter worth about $44,000. Benjamin Edwards Inc. bought a new stake in shares of Canadian Imperial Bank of Commerce in the third quarter worth $525,000. Quantinno Capital Management LP boosted its stake in shares of Canadian Imperial Bank of Commerce by 7.9% during the 3rd quarter. Quantinno Capital Management LP now owns 36,292 shares of the bank’s stock worth $2,226,000 after buying an additional 2,668 shares during the last quarter. State Street Corp bought a new position in Canadian Imperial Bank of Commerce in the third quarter valued at approximately $227,000. Finally, Orion Portfolio Solutions LLC increased its holdings in Canadian Imperial Bank of Commerce by 76.1% during the third quarter. Orion Portfolio Solutions LLC now owns 15,935 shares of the bank’s stock worth $977,000 after buying an additional 6,888 shares during the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CM has been the topic of several research analyst reports. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th. StockNews.com downgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Trading Down 3.0 %

NYSE:CM opened at $54.96 on Tuesday. The firm has a fifty day simple moving average of $59.26 and a two-hundred day simple moving average of $61.87. The stock has a market capitalization of $51.66 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 1.62 and a beta of 0.98. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a 12 month low of $46.50 and a 12 month high of $67.45.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be paid a dividend of $0.6723 per share. This represents a $2.69 annualized dividend and a yield of 4.89%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 48.03%.

About Canadian Imperial Bank of Commerce

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.