Massachusetts Financial Services Co. MA Sells 919 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Massachusetts Financial Services Co. MA decreased its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 111,114 shares of the bank’s stock after selling 919 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Canadian Imperial Bank of Commerce were worth $7,026,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crews Bank & Trust bought a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $30,000. Sandy Spring Bank bought a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $32,000. IFP Advisors Inc increased its holdings in shares of Canadian Imperial Bank of Commerce by 318.1% during the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock worth $34,000 after acquiring an additional 404 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in Canadian Imperial Bank of Commerce in the 3rd quarter valued at $44,000. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Down 3.0 %

CM stock opened at $54.96 on Tuesday. Canadian Imperial Bank of Commerce has a 52 week low of $46.50 and a 52 week high of $67.45. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The company’s 50-day simple moving average is $59.26 and its 200 day simple moving average is $61.87. The company has a market capitalization of $51.66 billion, a PE ratio of 10.27, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Investors of record on Friday, March 28th will be given a dividend of $0.6723 per share. This represents a $2.69 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 48.03%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CM shares. StockNews.com cut shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Friday. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and lifted their target price for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average target price of $92.00.

About Canadian Imperial Bank of Commerce

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.