Canadian Imperial Bank of Commerce (NYSE:CM) Position Decreased by Captrust Financial Advisors

Captrust Financial Advisors decreased its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,059 shares of the bank’s stock after selling 511 shares during the period. Captrust Financial Advisors’ holdings in Canadian Imperial Bank of Commerce were worth $617,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Public Sector Pension Investment Board boosted its position in shares of Canadian Imperial Bank of Commerce by 32.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank’s stock valued at $228,043,000 after purchasing an additional 900,575 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Canadian Imperial Bank of Commerce by 51.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 570,008 shares of the bank’s stock valued at $35,003,000 after buying an additional 192,753 shares in the last quarter. Bridgewater Associates LP purchased a new stake in Canadian Imperial Bank of Commerce during the third quarter valued at about $601,000. BNP Paribas Financial Markets purchased a new stake in Canadian Imperial Bank of Commerce during the third quarter valued at about $44,000. Finally, FMR LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 3.3% in the third quarter. FMR LLC now owns 2,106,913 shares of the bank’s stock worth $129,239,000 after purchasing an additional 67,480 shares in the last quarter. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM opened at $67.30 on Thursday. The firm has a market cap of $63.57 billion, a PE ratio of 12.56, a PEG ratio of 1.76 and a beta of 1.06. The firm’s 50 day moving average price is $63.32 and its 200 day moving average price is $56.42. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. Canadian Imperial Bank of Commerce has a twelve month low of $42.59 and a twelve month high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.6912 per share. This represents a $2.76 annualized dividend and a yield of 4.11%. The ex-dividend date is Friday, December 27th. 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 53.46%.

Analysts Set New Price Targets

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

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.