Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC cut its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 11.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,231 shares of the bank’s stock after selling 1,635 shares during the quarter. Octavia Wealth Advisors LLC’s holdings in Canadian Imperial Bank of Commerce were worth $846,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BNP Paribas Financial Markets acquired a new position in Canadian Imperial Bank of Commerce in the third quarter valued at approximately $44,000. Blue Trust Inc. boosted its holdings in Canadian Imperial Bank of Commerce by 571.6% in the third quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock valued at $45,000 after purchasing an additional 623 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Canadian Imperial Bank of Commerce by 1,069.4% in the fourth quarter. Versant Capital Management Inc now owns 725 shares of the bank’s stock valued at $46,000 after purchasing an additional 663 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in Canadian Imperial Bank of Commerce by 23.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock valued at $56,000 after purchasing an additional 171 shares in the last quarter. Finally, City State Bank acquired a new position in Canadian Imperial Bank of Commerce in the third quarter valued at approximately $61,000. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM opened at $63.36 on Wednesday. The company has a 50-day simple moving average of $64.18 and a 200-day simple moving average of $59.54. 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 quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $59.71 billion, a price-to-earnings ratio of 11.84, a PEG ratio of 1.65 and a beta of 1.06.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th will be issued a $0.6912 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.36%. 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 presently 51.22%.

Wall Street Analysts Forecast Growth

CM has been the subject of a number of research analyst reports. Royal Bank of Canada raised Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. StockNews.com lowered shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $92.00.

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.