Unigestion Holding SA Trims Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Unigestion Holding SA trimmed its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 58.0% in the third quarter, HoldingsChannel reports. The firm owned 122,909 shares of the bank’s stock after selling 169,524 shares during the period. Unigestion Holding SA’s holdings in Canadian Imperial Bank of Commerce were worth $7,538,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Canadian Imperial Bank of Commerce by 23.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock valued at $56,000 after purchasing an additional 171 shares during the last quarter. PDS Planning Inc boosted its holdings in Canadian Imperial Bank of Commerce by 4.7% in the third quarter. PDS Planning Inc now owns 4,978 shares of the bank’s stock valued at $305,000 after acquiring an additional 224 shares during the last quarter. MML Investors Services LLC grew its position in Canadian Imperial Bank of Commerce by 0.5% during the third quarter. MML Investors Services LLC now owns 44,008 shares of the bank’s stock valued at $2,699,000 after acquiring an additional 237 shares during the period. Prospera Private Wealth LLC increased its stake in Canadian Imperial Bank of Commerce by 3.2% during the third quarter. Prospera Private Wealth LLC now owns 10,486 shares of the bank’s stock worth $643,000 after acquiring an additional 330 shares during the last quarter. Finally, First Bank & Trust raised its holdings in shares of Canadian Imperial Bank of Commerce by 0.8% in the 3rd quarter. First Bank & Trust now owns 41,646 shares of the bank’s stock worth $2,555,000 after purchasing an additional 351 shares during the period. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Trading Up 0.5 %

Shares of CM opened at $66.48 on Wednesday. Canadian Imperial Bank of Commerce has a one year low of $42.59 and a one year high of $67.14. The stock has a 50-day moving average price of $63.19 and a 200 day moving average price of $56.29. 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 $62.80 billion, a P/E ratio of 12.43, a P/E/G ratio of 1.76 and a beta of 1.06.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Stockholders of record on Friday, December 27th will be given a dividend of $0.6912 per share. The ex-dividend date is Friday, December 27th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.16%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 53.46%.

Wall Street Analysts Forecast Growth

A number of research firms recently 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 report on Friday, December 6th. Cormark raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research note on Friday, August 30th. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a report on Friday, August 30th. BMO Capital Markets raised their price objective on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $97.00 target price (up previously from $74.00) on shares of Canadian Imperial Bank of Commerce in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of “Moderate Buy” and a consensus target price of $89.00.

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.