Hsbc Holdings PLC Has $62.35 Million Stock Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Hsbc Holdings PLC lessened its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 986,050 shares of the bank’s stock after selling 103,258 shares during the period. Hsbc Holdings PLC owned 0.10% of Canadian Imperial Bank of Commerce worth $62,354,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. JPMorgan Chase & Co. raised its position in shares of Canadian Imperial Bank of Commerce by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank’s stock worth $359,320,000 after acquiring an additional 334,545 shares in the last quarter. Rhumbline Advisers grew its stake in Canadian Imperial Bank of Commerce by 12.6% during the fourth quarter. Rhumbline Advisers now owns 3,622 shares of the bank’s stock worth $229,000 after purchasing an additional 404 shares during the period. American Century Companies Inc. increased its holdings in Canadian Imperial Bank of Commerce by 8.5% in the fourth quarter. American Century Companies Inc. now owns 299,211 shares of the bank’s stock worth $18,927,000 after purchasing an additional 23,403 shares in the last quarter. Smith Group Asset Management LLC acquired a new position in Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $4,875,000. Finally, Mission Wealth Management LP acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth approximately $322,000. Institutional investors own 49.88% of the company’s stock.

Wall Street Analyst Weigh In

CM has been the subject of a number of research reports. StockNews.com cut shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Tuesday. Royal Bank of Canada upgraded Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $97.00 to $103.00 in a research note on Wednesday, January 8th. Finally, Jefferies Financial Group downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock opened at $60.36 on Friday. Canadian Imperial Bank of Commerce has a 52 week low of $46.50 and a 52 week high of $67.45. The company’s 50 day moving average price is $57.96 and its two-hundred day moving average price is $61.53. The stock has a market cap of $56.74 billion, a P/E ratio of 11.28, a P/E/G ratio of 1.62 and a beta of 0.98. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14.

Canadian Imperial Bank of Commerce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be paid a $0.6723 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.69 dividend on an annualized basis and a yield of 4.46%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 48.03%.

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.