First County Bank CT Has $991,000 Position in Canadian Imperial Bank of Commerce (NYSE:CM)

First County Bank CT lessened its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 7.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,670 shares of the bank’s stock after selling 1,293 shares during the period. First County Bank CT’s holdings in Canadian Imperial Bank of Commerce were worth $991,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Toronto Dominion Bank boosted its holdings in shares of Canadian Imperial Bank of Commerce by 17.9% during the second quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank’s stock worth $1,233,272,000 after purchasing an additional 3,942,894 shares during the period. Cibc World Market Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 18.9% during the 2nd quarter. Cibc World Market Inc. now owns 19,748,305 shares of the bank’s stock valued at $938,834,000 after buying an additional 3,143,734 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Canadian Imperial Bank of Commerce by 61.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,030,130 shares of the bank’s stock valued at $334,321,000 after buying an additional 2,681,428 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Canadian Imperial Bank of Commerce by 14.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,641,498 shares of the bank’s stock valued at $652,676,000 after acquiring an additional 1,305,665 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of Canadian Imperial Bank of Commerce during the third quarter worth $62,849,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $97.00 price target (up from $74.00) on shares of Canadian Imperial Bank of Commerce in a report on Friday, December 6th. StockNews.com cut shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $89.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of NYSE CM traded down $0.39 during trading hours on Tuesday, hitting $62.79. 272,148 shares of the stock were exchanged, compared to its average volume of 506,345. The firm has a market capitalization of $59.17 billion, a P/E ratio of 11.74, a P/E/G ratio of 1.78 and a beta of 1.06. Canadian Imperial Bank of Commerce has a one year low of $43.86 and a one year high of $67.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The company’s 50 day moving average is $64.40 and its 200 day moving average is $58.53.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th will be given a $0.6912 dividend. This represents a $2.76 annualized dividend and a dividend yield of 4.40%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date is Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 53.46%.

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.