CenterBook Partners LP Sells 44,892 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

CenterBook Partners LP trimmed its position in shares of Canadian Imperial Bank of Commerce (NYSE:CMFree Report) (TSE:CM) by 38.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 71,888 shares of the bank’s stock after selling 44,892 shares during the quarter. CenterBook Partners LP’s holdings in Canadian Imperial Bank of Commerce were worth $3,461,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CM. Quantbot Technologies LP bought a new position in Canadian Imperial Bank of Commerce during the 3rd quarter valued at about $628,000. J.P. Morgan Private Wealth Advisors LLC grew its stake in Canadian Imperial Bank of Commerce by 13.5% in the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 33,128 shares of the bank’s stock worth $1,279,000 after acquiring an additional 3,935 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Canadian Imperial Bank of Commerce by 44.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 6,900 shares of the bank’s stock worth $266,000 after acquiring an additional 2,131 shares in the last quarter. Sowell Financial Services LLC bought a new position in Canadian Imperial Bank of Commerce in the 3rd quarter worth about $585,000. Finally, Janney Montgomery Scott LLC grew its stake in Canadian Imperial Bank of Commerce by 1.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 74,015 shares of the bank’s stock worth $2,857,000 after acquiring an additional 917 shares in the last quarter. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Stock Down 0.5 %

NYSE:CM traded down $0.24 during midday trading on Friday, reaching $48.99. 825,792 shares of the stock traded hands, compared to its average volume of 1,035,340. Canadian Imperial Bank of Commerce has a 12-month low of $34.35 and a 12-month high of $51.14. The business has a 50-day moving average of $48.61 and a two-hundred day moving average of $47.01. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market capitalization of $46.20 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 1.94 and a beta of 1.06.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 29th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.653 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.61 annualized dividend and a dividend yield of 5.33%. Canadian Imperial Bank of Commerce’s payout ratio is currently 54.53%.

Analyst Ratings Changes

CM has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, February 22nd. They issued a “buy” rating on the stock. 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. Keefe, Bruyette & Woods raised shares of Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a research report on Monday, June 3rd. BMO Capital Markets upped their price target on shares of Canadian Imperial Bank of Commerce from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Finally, Scotiabank raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to a “sector outperform” rating in a research report on Tuesday, February 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $67.00.

View Our Latest Research Report on Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding CM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Imperial Bank of Commerce (NYSE:CMFree Report) (TSE:CM).

Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.