Lantz Financial LLC Reduces Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Lantz Financial LLC trimmed its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 38.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BNP Paribas Financial Markets bought a new position in Canadian Imperial Bank of Commerce in the 3rd quarter worth about $44,000. Versant Capital Management Inc grew its holdings in shares of 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 worth $46,000 after purchasing an additional 663 shares in the last quarter. Blue Trust Inc. increased its position 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 purchasing an additional 623 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in Canadian Imperial Bank of Commerce by 23.1% in the third quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank’s stock valued at $56,000 after purchasing an additional 171 shares in the last quarter. Finally, City State Bank bought a new stake in Canadian Imperial Bank of Commerce during the third quarter valued at approximately $61,000. Institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM stock opened at $63.52 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 stock has a market cap of $59.86 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.68 and a beta of 1.06. The business’s fifty day moving average is $64.14 and its 200 day moving average is $59.81. Canadian Imperial Bank of Commerce has a twelve month low of $43.86 and a twelve month high of $67.45.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 28th. Investors of record on Friday, December 27th will be paid a $0.6912 dividend. This represents a $2.76 annualized dividend and a dividend yield of 4.35%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date is Friday, December 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 51.22%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CM. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $92.00.

Canadian Imperial Bank of Commerce 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.