Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Unigestion Holding SA

Unigestion Holding SA cut its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 58.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 122,909 shares of the bank’s stock after selling 169,524 shares during the quarter. Unigestion Holding SA’s holdings in Canadian Imperial Bank of Commerce were worth $7,538,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CM. Hobbs Group Advisors LLC increased its position in Canadian Imperial Bank of Commerce by 675.8% in the 3rd quarter. Hobbs Group Advisors LLC now owns 2,211 shares of the bank’s stock valued at $136,000 after acquiring an additional 1,926 shares during the period. Geode Capital Management LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 8.6% in the third quarter. Geode Capital Management LLC now owns 4,245,235 shares of the bank’s stock valued at $262,598,000 after purchasing an additional 336,854 shares during the period. Public Employees Retirement System of Ohio acquired a new stake in shares of Canadian Imperial Bank of Commerce during the third quarter worth $10,045,000. MML Investors Services LLC grew its position in Canadian Imperial Bank of Commerce by 0.5% in the 3rd quarter. MML Investors Services LLC now owns 44,008 shares of the bank’s stock valued at $2,699,000 after buying an additional 237 shares during the last quarter. Finally, Orion Portfolio Solutions LLC increased its stake in Canadian Imperial Bank of Commerce by 76.1% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 15,935 shares of the bank’s stock valued at $977,000 after buying an additional 6,888 shares during the period. 49.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CM. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $97.00 target price (up previously from $74.00) on shares of Canadian Imperial Bank of Commerce in a report on Friday, December 6th. BMO Capital Markets boosted their target price on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Bank of America raised Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research note on Friday, August 30th. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, December 6th. Finally, Cormark upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM opened at $66.48 on Wednesday. Canadian Imperial Bank of Commerce has a 12 month low of $42.59 and a 12 month high of $67.14. The firm has a market capitalization of $62.80 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.76 and a beta of 1.06. The business’s 50 day simple moving average is $63.19 and its 200-day simple moving average is $56.29. 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 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 28th. Shareholders of record on Friday, December 27th will be issued a $0.6912 dividend. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.76 annualized dividend and a yield of 4.16%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 53.46%.

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.