Janus Henderson Group PLC Lowers Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Janus Henderson Group PLC decreased its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 10.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 88,839 shares of the bank’s stock after selling 10,700 shares during the period. Janus Henderson Group PLC’s holdings in Canadian Imperial Bank of Commerce were worth $5,612,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Crews Bank & Trust purchased a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at $25,000. Operose Advisors LLC purchased a new stake in Canadian Imperial Bank of Commerce during the fourth quarter valued at about $26,000. SBI Securities Co. Ltd. bought a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth about $30,000. Sandy Spring Bank purchased a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter worth about $32,000. Finally, IFP Advisors Inc increased its position in shares of Canadian Imperial Bank of Commerce by 318.1% during the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock valued at $34,000 after purchasing an additional 404 shares during the last quarter. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Price Performance

CM opened at $66.27 on Monday. 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 stock’s 50 day simple moving average is $59.39 and its 200 day simple moving average is $61.72. The firm has a market cap of $62.30 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 1.62 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 1 year low of $46.99 and a 1 year high of $67.45.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 28th. Stockholders of record on Friday, March 28th were issued a $0.6723 dividend. This represents a $2.69 annualized dividend and a dividend yield of 4.06%. The ex-dividend date was Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 48.03%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CM shares. Jefferies Financial Group downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Monday, April 21st. Scotiabank started coverage on shares of Canadian Imperial Bank of Commerce in a report on Thursday. They issued a “sector outperform” rating for the company. Finally, StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

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.