Intrust Bank NA Reduces Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Intrust Bank NA trimmed its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 23.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,516 shares of the bank’s stock after selling 1,653 shares during the period. Intrust Bank NA’s holdings in Canadian Imperial Bank of Commerce were worth $349,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crews Bank & Trust bought a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at about $25,000. SBI Securities Co. Ltd. bought a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $30,000. Sandy Spring Bank bought a new position in Canadian Imperial Bank of Commerce in the fourth quarter worth approximately $32,000. IFP Advisors Inc increased its holdings in Canadian Imperial Bank of Commerce by 318.1% during the 4th quarter. IFP Advisors Inc now owns 531 shares of the bank’s stock worth $34,000 after purchasing an additional 404 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in Canadian Imperial Bank of Commerce during the 3rd quarter valued at $44,000. 49.88% of the stock is owned by institutional investors.

Canadian Imperial Bank of Commerce Trading Down 2.0 %

CM opened at $56.16 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The firm has a market cap of $52.79 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 1.62 and a beta of 1.07. Canadian Imperial Bank of Commerce has a 12 month low of $46.50 and a 12 month high of $67.45. The stock has a fifty day moving average price of $60.03 and a 200-day moving average price of $62.06.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be given a dividend of $0.6723 per share. This represents a $2.69 annualized dividend and a dividend yield of 4.79%. The ex-dividend date is Friday, March 28th. Canadian Imperial Bank of Commerce’s payout ratio is 48.03%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday, February 14th. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.

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.