Lantz Financial LLC Lowers Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Lantz Financial LLC reduced its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 38.4% during the fourth quarter, HoldingsChannel reports. The fund owned 3,606 shares of the bank’s stock after selling 2,246 shares during the period. Lantz Financial LLC’s holdings in Canadian Imperial Bank of Commerce were worth $228,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new stake in Canadian Imperial Bank of Commerce during the 3rd quarter valued at $44,000. Blue Trust Inc. grew its stake in shares of Canadian Imperial Bank of Commerce by 571.6% in the third quarter. Blue Trust Inc. now owns 732 shares of the bank’s stock worth $45,000 after acquiring an additional 623 shares during the period. Versant Capital Management Inc lifted its position in Canadian Imperial Bank of Commerce by 1,069.4% during the fourth quarter. Versant Capital Management Inc now owns 725 shares of the bank’s stock valued at $46,000 after purchasing an additional 663 shares during the period. Massmutual Trust Co. FSB ADV grew its position in Canadian Imperial Bank of Commerce by 23.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock worth $56,000 after purchasing an additional 171 shares during the period. Finally, City State Bank bought a new position in shares of Canadian Imperial Bank of Commerce during the 3rd quarter valued at $61,000. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Stock Down 0.2 %

CM stock opened at $63.52 on Friday. The business’s 50-day moving average price is $64.14 and its 200-day moving average price is $59.81. The stock has a market cap of $59.86 billion, a P/E ratio of 11.87, a PEG ratio of 1.68 and a beta of 1.06. Canadian Imperial Bank of Commerce has a twelve month low of $43.86 and a twelve month high of $67.45. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently declared 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 is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. This represents a $2.76 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date of this dividend is Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 51.22%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CM shares. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Thursday. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their target price 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 issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company 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.