Gulf International Bank UK Ltd Sells 830 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Gulf International Bank UK Ltd decreased its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 29.7% during the fourth quarter, HoldingsChannel reports. The firm owned 1,966 shares of the bank’s stock after selling 830 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Canadian Imperial Bank of Commerce were worth $124,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Public Sector Pension Investment Board boosted its stake in shares of Canadian Imperial Bank of Commerce by 32.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank’s stock valued at $228,043,000 after purchasing an additional 900,575 shares in the last quarter. CIBC Asset Management Inc lifted its position in Canadian Imperial Bank of Commerce by 3.4% during the 3rd quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank’s stock valued at $696,659,000 after acquiring an additional 375,837 shares during the period. Atlanta Consulting Group Advisors LLC purchased a new position in Canadian Imperial Bank of Commerce during the 3rd quarter valued at about $671,000. FMR LLC lifted its position in Canadian Imperial Bank of Commerce by 3.3% during the 3rd quarter. FMR LLC now owns 2,106,913 shares of the bank’s stock valued at $129,239,000 after acquiring an additional 67,480 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Canadian Imperial Bank of Commerce by 6.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank’s stock valued at $359,320,000 after acquiring an additional 334,545 shares during the period. Institutional investors own 49.88% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CM shares. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and lifted 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 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Price Performance

CM stock opened at $60.55 on Monday. Canadian Imperial Bank of Commerce has a one year low of $46.50 and a one year high of $67.45. The company’s fifty day moving average price is $62.48 and its 200-day moving average price is $61.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market capitalization of $57.06 billion, a PE ratio of 11.32, a price-to-earnings-growth ratio of 1.62 and a beta of 1.05.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 4.44%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 47.67%.

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.