Metis Global Partners LLC Sells 5,423 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Metis Global Partners LLC lowered its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 9.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,079 shares of the bank’s stock after selling 5,423 shares during the quarter. Metis Global Partners LLC’s holdings in Canadian Imperial Bank of Commerce were worth $3,231,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC grew its position in Canadian Imperial Bank of Commerce by 4.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank’s stock valued at $255,000 after buying an additional 194 shares during the period. PDS Planning Inc grew its position in Canadian Imperial Bank of Commerce by 4.7% during the third quarter. PDS Planning Inc now owns 4,978 shares of the bank’s stock valued at $305,000 after buying an additional 224 shares during the period. MML Investors Services LLC grew its position in Canadian Imperial Bank of Commerce by 0.5% during the third 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 period. MassMutual Private Wealth & Trust FSB grew its position in Canadian Imperial Bank of Commerce by 27.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,161 shares of the bank’s stock valued at $73,000 after buying an additional 250 shares during the period. Finally, Fifth Third Bancorp grew its position in Canadian Imperial Bank of Commerce by 5.7% during the fourth quarter. Fifth Third Bancorp now owns 4,971 shares of the bank’s stock valued at $314,000 after buying an additional 270 shares during the period. Institutional investors own 49.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE:CM opened at $60.55 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $57.06 billion, a PE ratio of 11.32, a P/E/G ratio of 1.62 and a beta of 1.05. Canadian Imperial Bank of Commerce has a twelve month low of $46.50 and a twelve month high of $67.45. The company has a 50-day moving average price of $62.48 and a two-hundred day moving average price of $61.92.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Stockholders of record on Friday, March 28th will be issued a $0.6723 dividend. This represents a $2.69 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date of this dividend is Friday, March 28th. Canadian Imperial Bank of Commerce’s payout ratio is 47.67%.

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.