Raleigh Capital Management Inc. Has $544,000 Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Raleigh Capital Management Inc. lowered its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 54.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,597 shares of the bank’s stock after selling 10,469 shares during the period. Raleigh Capital Management Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $544,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CM. Toronto Dominion Bank grew its position in shares of Canadian Imperial Bank of Commerce by 17.9% during the 2nd quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank’s stock worth $1,233,272,000 after buying an additional 3,942,894 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of Canadian Imperial Bank of Commerce by 32.0% in the third quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank’s stock valued at $228,043,000 after purchasing an additional 900,575 shares in the last quarter. Legal & General Group Plc grew its holdings in Canadian Imperial Bank of Commerce by 3.3% during the second quarter. Legal & General Group Plc now owns 7,213,860 shares of the bank’s stock worth $342,946,000 after buying an additional 228,130 shares in the last quarter. Ritholtz Wealth Management raised its position in Canadian Imperial Bank of Commerce by 140.6% in the 3rd quarter. Ritholtz Wealth Management now owns 14,308 shares of the bank’s stock valued at $878,000 after buying an additional 8,362 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Canadian Imperial Bank of Commerce by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank’s stock valued at $696,659,000 after acquiring an additional 375,837 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CM. StockNews.com downgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Monday, January 6th. Royal Bank of Canada upgraded 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 research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $92.00.

Canadian Imperial Bank of Commerce Stock Performance

NYSE CM opened at $63.62 on Thursday. 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 company has a market capitalization of $59.96 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 1.67 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 52-week low of $43.86 and a 52-week high of $67.45. The company has a 50-day simple moving average of $64.15 and a 200 day simple moving average of $59.68.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared 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 4.35%. The ex-dividend date is Friday, December 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. Canadian Imperial Bank of Commerce’s payout ratio is 51.22%.

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.