Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 3.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,094 shares of the bank’s stock after selling 385 shares during the quarter. M&T Bank Corp’s holdings in Canadian Imperial Bank of Commerce were worth $681,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Lantz Financial LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 7.1% during the second quarter. Lantz Financial LLC now owns 5,824 shares of the bank’s stock valued at $277,000 after purchasing an additional 385 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in shares of Canadian Imperial Bank of Commerce by 136.3% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 12,252 shares of the bank’s stock worth $582,000 after acquiring an additional 7,066 shares during the last quarter. Nexus Investment Management ULC increased its holdings in shares of Canadian Imperial Bank of Commerce by 0.7% in the 2nd quarter. Nexus Investment Management ULC now owns 73,030 shares of the bank’s stock worth $3,470,000 after acquiring an additional 501 shares during the period. Raymond James Trust N.A. lifted its position in Canadian Imperial Bank of Commerce by 4.5% in the 2nd quarter. Raymond James Trust N.A. now owns 15,212 shares of the bank’s stock valued at $723,000 after purchasing an additional 662 shares during the last quarter. Finally, Atomi Financial Group Inc. grew its position in Canadian Imperial Bank of Commerce by 21.7% in the 2nd quarter. Atomi Financial Group Inc. now owns 5,561 shares of the bank’s stock worth $264,000 after purchasing an additional 992 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Trading Up 0.0 %

Canadian Imperial Bank of Commerce stock opened at $66.17 on Tuesday. The firm has a market cap of $62.50 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 1.78 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 1 year low of $43.86 and a 1 year high of $67.45. The firm’s 50 day moving average price is $63.82 and its two-hundred day moving average price is $56.92. 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Investors 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 4.18%. 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 payout ratio is presently 53.46%.

Analyst Upgrades and Downgrades

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

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.