Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Barclays PLC

Barclays PLC reduced its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 2.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,173 shares of the bank’s stock after selling 719 shares during the quarter. Barclays PLC’s holdings in Canadian Imperial Bank of Commerce were worth $1,484,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets purchased a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at about $44,000. Blue Trust Inc. grew its holdings 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 purchasing an additional 623 shares during the period. Massmutual Trust Co. FSB ADV increased its position in shares of Canadian Imperial Bank of Commerce by 23.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock valued at $56,000 after buying an additional 171 shares in the last quarter. City State Bank acquired a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter worth approximately $61,000. Finally, Ninepoint Partners LP purchased a new position in shares of Canadian Imperial Bank of Commerce during the 2nd quarter valued at approximately $97,000. 49.88% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $97.00 price target (up previously from $74.00) on shares of Canadian Imperial Bank of Commerce in a report on Friday, December 6th. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $89.00.

Canadian Imperial Bank of Commerce Trading Down 2.4 %

Shares of CM opened at $62.89 on Friday. Canadian Imperial Bank of Commerce has a 52-week low of $43.86 and a 52-week high of $67.45. The stock has a market cap of $59.41 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 1.78 and a beta of 1.06. The firm’s fifty day moving average is $64.37 and its two-hundred day moving average is $57.81. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors 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 is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. This represents a $2.76 dividend on an annualized basis and a yield of 4.40%. Canadian Imperial Bank of Commerce’s payout ratio is presently 53.46%.

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.