Stephens Inc. AR Sells 2,779 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Stephens Inc. AR reduced its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 12.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,152 shares of the bank’s stock after selling 2,779 shares during the quarter. Stephens Inc. AR’s holdings in Canadian Imperial Bank of Commerce were worth $1,211,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Crews Bank & Trust bought a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at about $25,000. BNP Paribas Financial Markets bought a new position in Canadian Imperial Bank of Commerce in the third quarter valued at approximately $44,000. Blue Trust Inc. boosted its stake in Canadian Imperial Bank of Commerce by 571.6% in the third quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock valued at $45,000 after acquiring an additional 623 shares during the last quarter. Versant Capital Management Inc grew its holdings in Canadian Imperial Bank of Commerce by 1,069.4% during the 4th quarter. Versant Capital Management Inc now owns 725 shares of the bank’s stock worth $46,000 after acquiring an additional 663 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Canadian Imperial Bank of Commerce by 27.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,161 shares of the bank’s stock valued at $73,000 after acquiring an additional 250 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Up 0.4 %

Shares of CM stock opened at $61.72 on Thursday. The firm’s fifty day moving average price is $63.62 and its two-hundred day moving average price is $61.01. 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 1 year low of $43.86 and a 1 year high of $67.45. The firm has a market capitalization of $58.16 billion, a P/E ratio of 11.54, a PEG ratio of 1.64 and a beta of 1.05.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th were given a dividend of $0.6912 per share. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.76 annualized dividend and a dividend yield of 4.48%. Canadian Imperial Bank of Commerce’s payout ratio is 51.21%.

Analysts Set New Price Targets

Several research firms have recently issued reports on CM. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Tuesday, February 4th. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $92.00.

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.