First County Bank CT Sells 1,293 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

First County Bank CT trimmed its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 7.6% during the 4th quarter, HoldingsChannel reports. The fund owned 15,670 shares of the bank’s stock after selling 1,293 shares during the quarter. First County Bank CT’s holdings in Canadian Imperial Bank of Commerce were worth $991,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its position in shares of Canadian Imperial Bank of Commerce by 17.9% during the second quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank’s stock valued at $1,233,272,000 after purchasing an additional 3,942,894 shares during the period. Cibc World Market Inc. boosted its stake in Canadian Imperial Bank of Commerce by 18.9% during the second quarter. Cibc World Market Inc. now owns 19,748,305 shares of the bank’s stock worth $938,834,000 after buying an additional 3,143,734 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Canadian Imperial Bank of Commerce by 61.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,030,130 shares of the bank’s stock valued at $334,321,000 after buying an additional 2,681,428 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Canadian Imperial Bank of Commerce by 14.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,641,498 shares of the bank’s stock valued at $652,676,000 after buying an additional 1,305,665 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter worth about $62,849,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM traded down $0.39 during mid-day trading on Tuesday, hitting $62.79. 272,148 shares of the company traded hands, compared to its average volume of 506,345. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $59.17 billion, a price-to-earnings ratio of 11.74, a PEG ratio of 1.78 and a beta of 1.06. The business has a 50-day moving average of $64.40 and a 200 day moving average of $58.53. Canadian Imperial Bank of Commerce has a one year low of $43.86 and a one year high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be given a $0.6912 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 4.40%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date is Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 53.46%.

Analyst Ratings Changes

Several research analysts recently issued reports on CM shares. StockNews.com lowered shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Monday. Royal Bank of Canada reissued a “sector perform” rating and issued a $97.00 target price (up from $74.00) on shares of Canadian Imperial Bank of Commerce in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $89.00.

Canadian Imperial Bank of Commerce Company 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.