First Bank & Trust Decreases Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

First Bank & Trust reduced its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 12.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,329 shares of the bank’s stock after selling 5,317 shares during the quarter. First Bank & Trust’s holdings in Canadian Imperial Bank of Commerce were worth $2,297,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CM. Alberta Investment Management Corp boosted its stake in shares of Canadian Imperial Bank of Commerce by 74.4% in the fourth quarter. Alberta Investment Management Corp now owns 1,572,963 shares of the bank’s stock valued at $99,450,000 after purchasing an additional 671,028 shares during the period. Lorne Steinberg Wealth Management Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 1.1% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 161,334 shares of the bank’s stock valued at $10,195,000 after purchasing an additional 1,740 shares during the period. Allworth Financial LP boosted its stake in shares of Canadian Imperial Bank of Commerce by 255.6% in the fourth quarter. Allworth Financial LP now owns 1,120 shares of the bank’s stock valued at $71,000 after purchasing an additional 805 shares during the period. Rhumbline Advisers boosted its stake in shares of Canadian Imperial Bank of Commerce by 12.6% in the fourth quarter. Rhumbline Advisers now owns 3,622 shares of the bank’s stock valued at $229,000 after purchasing an additional 404 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 195.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 227,989 shares of the bank’s stock valued at $14,404,000 after purchasing an additional 150,789 shares during the period. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CM has been the subject of several analyst reports. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, February 14th. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $97.00 to $103.00 in a report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and a consensus target price of $92.00.

Canadian Imperial Bank of Commerce Trading Down 0.7 %

CM opened at $61.82 on Thursday. The stock has a market capitalization of $58.26 billion, a PE ratio of 11.56, a P/E/G ratio of 1.64 and a beta of 1.05. The firm’s fifty day moving average price is $63.12 and its 200 day moving average price is $61.40. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a 12-month low of $45.84 and a 12-month high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th were issued a dividend of $0.6912 per share. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.47%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date was Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 51.22%.

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.