Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC trimmed its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,139 shares of the bank’s stock after selling 201 shares during the quarter. Corient Private Wealth LLC’s holdings in Canadian Imperial Bank of Commerce were worth $1,021,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Natixis Advisors LLC raised its stake in Canadian Imperial Bank of Commerce by 6.3% during the fourth quarter. Natixis Advisors LLC now owns 49,849 shares of the bank’s stock worth $3,152,000 after acquiring an additional 2,957 shares during the period. Aviso Financial Inc. raised its position in shares of Canadian Imperial Bank of Commerce by 1,098.7% during the 4th quarter. Aviso Financial Inc. now owns 639,512 shares of the bank’s stock worth $40,444,000 after purchasing an additional 586,160 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Canadian Imperial Bank of Commerce by 244.8% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 417,930 shares of the bank’s stock worth $26,493,000 after purchasing an additional 296,738 shares during the last quarter. Achmea Investment Management B.V. grew its stake in Canadian Imperial Bank of Commerce by 1,377.4% during the 4th quarter. Achmea Investment Management B.V. now owns 325,667 shares of the bank’s stock worth $20,590,000 after buying an additional 303,624 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Canadian Imperial Bank of Commerce by 1.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,757,382 shares of the bank’s stock worth $679,613,000 after buying an additional 115,884 shares during the period. 49.88% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CM. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average price target of $92.00.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at $58.12 on Thursday. The firm has a 50-day moving average of $60.26 and a two-hundred day moving average of $62.10. The firm has a market capitalization of $54.63 billion, a PE ratio of 10.86, a P/E/G ratio of 1.62 and a beta of 1.07. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a one year low of $46.50 and a one year high of $67.45.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be given a dividend of $0.6723 per share. This represents a $2.69 annualized dividend and a yield of 4.63%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s payout ratio is 48.03%.

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.