Wrapmanager Inc. Sells 457 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Wrapmanager Inc. trimmed its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 6.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,146 shares of the bank’s stock after selling 457 shares during the quarter. Wrapmanager Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $344,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Metis Global Partners LLC increased its holdings in Canadian Imperial Bank of Commerce by 15.8% during the 4th quarter. Metis Global Partners LLC now owns 55,876 shares of the bank’s stock valued at $2,690,000 after purchasing an additional 7,635 shares in the last quarter. AJOVista LLC acquired a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at about $597,000. Sapient Capital LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth about $214,000. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $392,000. Finally, Natixis Advisors L.P. grew its stake in shares of Canadian Imperial Bank of Commerce by 19.2% during the fourth quarter. Natixis Advisors L.P. now owns 40,776 shares of the bank’s stock valued at $1,962,000 after purchasing an additional 6,557 shares during the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Up 1.0 %

CM traded up $0.51 on Thursday, hitting $49.10. 684,744 shares of the company were exchanged, compared to its average volume of 1,705,783. The company has a market cap of $46.05 billion, a PE ratio of 10.15, a PEG ratio of 2.25 and a beta of 1.07. Canadian Imperial Bank of Commerce has a 12 month low of $34.35 and a 12 month high of $51.14. The stock’s fifty day moving average is $48.86 and its 200-day moving average is $45.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Thursday, February 29th. The bank reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.10. Canadian Imperial Bank of Commerce had a net margin of 10.79% and a return on equity of 13.07%. The firm had revenue of $4.60 billion during the quarter, compared to analysts’ expectations of $4.47 billion. Equities research analysts predict that Canadian Imperial Bank of Commerce will post 5.04 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 29th. Shareholders of record on Thursday, March 28th were issued a $0.6634 dividend. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.66. This represents a $2.65 annualized dividend and a yield of 5.40%. The ex-dividend date of this dividend was Wednesday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 54.75%.

Analyst Ratings Changes

CM has been the subject of several research analyst reports. Barclays started coverage on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, March 20th. They issued an “underweight” rating for the company. Jefferies Financial Group initiated coverage on Canadian Imperial Bank of Commerce in a research report on Thursday, February 22nd. They issued a “buy” rating for the company. Finally, Scotiabank raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a research note on Tuesday, February 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of “Moderate Buy” and an average target price of $63.00.

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.