Northwest & Ethical Investments L.P. Sells 26,988 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Northwest & Ethical Investments L.P. cut its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 13.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 166,826 shares of the bank’s stock after selling 26,988 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Canadian Imperial Bank of Commerce were worth $10,534,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Natixis Advisors LLC increased its stake in shares of Canadian Imperial Bank of Commerce by 8.9% in the third quarter. Natixis Advisors LLC now owns 46,892 shares of the bank’s stock worth $2,876,000 after purchasing an additional 3,836 shares in the last quarter. Prospera Private Wealth LLC increased its stake in Canadian Imperial Bank of Commerce by 3.2% in the 3rd quarter. Prospera Private Wealth LLC now owns 10,486 shares of the bank’s stock worth $643,000 after buying an additional 330 shares in the last quarter. PCJ Investment Counsel Ltd. raised its holdings in Canadian Imperial Bank of Commerce by 38.8% during the third quarter. PCJ Investment Counsel Ltd. now owns 50,490 shares of the bank’s stock valued at $3,097,000 after acquiring an additional 14,120 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Canadian Imperial Bank of Commerce by 14.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,641,498 shares of the bank’s stock valued at $652,676,000 after acquiring an additional 1,305,665 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board boosted its stake in shares of Canadian Imperial Bank of Commerce by 55.8% in the third quarter. Ontario Teachers Pension Plan Board now owns 18,601 shares of the bank’s stock worth $1,141,000 after acquiring an additional 6,665 shares during the period. 49.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Canadian Imperial Bank of Commerce Stock Up 0.0 %

Shares of NYSE:CM opened at $56.78 on Thursday. The firm has a market capitalization of $53.38 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 1.62 and a beta of 1.07. The business has a 50 day simple moving average of $60.74 and a two-hundred day simple moving average of $62.15. Canadian Imperial Bank of Commerce has a 1 year low of $46.50 and a 1 year high of $67.45. 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 Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be given a $0.6723 dividend. This represents a $2.69 annualized dividend and a yield of 4.74%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 48.03%.

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.