Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Dean Investment Associates LLC

Dean Investment Associates LLC lessened its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 0.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,246 shares of the bank’s stock after selling 294 shares during the quarter. Dean Investment Associates LLC’s holdings in Canadian Imperial Bank of Commerce were worth $3,051,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of Canadian Imperial Bank of Commerce by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank’s stock valued at $359,320,000 after purchasing an additional 334,545 shares in the last quarter. Rhumbline Advisers raised its stake in Canadian Imperial Bank of Commerce by 12.6% during the fourth quarter. Rhumbline Advisers now owns 3,622 shares of the bank’s stock valued at $229,000 after buying an additional 404 shares in the last quarter. American Century Companies Inc. lifted its holdings in Canadian Imperial Bank of Commerce by 8.5% during the 4th quarter. American Century Companies Inc. now owns 299,211 shares of the bank’s stock worth $18,927,000 after buying an additional 23,403 shares during the last quarter. Smith Group Asset Management LLC bought a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at approximately $4,875,000. Finally, Mission Wealth Management LP acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at approximately $322,000. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on CM shares. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Trading Up 0.3 %

Shares of NYSE:CM opened at $58.94 on Friday. Canadian Imperial Bank of Commerce has a fifty-two week low of $46.50 and a fifty-two week high of $67.45. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The company has a market cap of $55.41 billion, a PE ratio of 11.02, a P/E/G ratio of 1.62 and a beta of 0.98. The company’s 50-day moving average price is $58.19 and its 200 day moving average price is $61.56.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be given a $0.6723 dividend. This represents a $2.69 annualized dividend and a yield of 4.56%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 48.03%.

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.