Signal Advisors Wealth LLC Has $578,000 Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Signal Advisors Wealth LLC cut its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 8.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,392 shares of the bank’s stock after selling 996 shares during the period. Signal Advisors Wealth LLC’s holdings in Canadian Imperial Bank of Commerce were worth $578,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. UBS Group AG grew its stake in Canadian Imperial Bank of Commerce by 5.5% in the 3rd quarter. UBS Group AG now owns 300,137 shares of the bank’s stock valued at $11,588,000 after buying an additional 15,773 shares during the last quarter. Blair William & Co. IL grew its position in shares of Canadian Imperial Bank of Commerce by 13.3% during the 3rd quarter. Blair William & Co. IL now owns 10,192 shares of the bank’s stock worth $394,000 after purchasing an additional 1,198 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter worth approximately $1,829,000. Envestnet Asset Management Inc. grew its position in shares of Canadian Imperial Bank of Commerce by 22.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 862,027 shares of the bank’s stock worth $33,283,000 after purchasing an additional 156,558 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Canadian Imperial Bank of Commerce by 1.9% during the 3rd quarter. Invesco Ltd. now owns 2,155,029 shares of the bank’s stock worth $83,206,000 after purchasing an additional 40,012 shares in the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CM. BMO Capital Markets increased their target price on shares of Canadian Imperial Bank of Commerce from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Barclays assumed coverage on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, March 20th. They set an “underweight” rating on the stock. Keefe, Bruyette & Woods raised shares of Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a report on Monday, June 3rd. Jefferies Financial Group assumed coverage on shares of Canadian Imperial Bank of Commerce in a report on Thursday, February 22nd. They set a “buy” rating for the company. Finally, StockNews.com downgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has an average rating of “Hold” and a consensus target price of $67.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock opened at $47.42 on Friday. The company has a 50 day moving average of $48.29 and a 200-day moving average of $47.53. Canadian Imperial Bank of Commerce has a 1-year low of $34.35 and a 1-year high of $51.14. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15. The company has a market cap of $44.71 billion, a PE ratio of 9.76, a price-to-earnings-growth ratio of 1.89 and a beta of 1.06.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Investors of record on Friday, June 28th will be paid a $0.653 dividend. This represents a $2.61 annualized dividend and a yield of 5.51%. The ex-dividend date of this dividend is Friday, June 28th. Canadian Imperial Bank of Commerce’s payout ratio is 54.53%.

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.