Janus Henderson Group PLC Sells 10,700 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Janus Henderson Group PLC lessened its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 10.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 88,839 shares of the bank’s stock after selling 10,700 shares during the period. Janus Henderson Group PLC’s holdings in Canadian Imperial Bank of Commerce were worth $5,612,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CM. JPMorgan Chase & Co. grew its position in Canadian Imperial Bank of Commerce by 6.1% during the third quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank’s stock valued at $359,320,000 after buying an additional 334,545 shares during the period. Ritholtz Wealth Management boosted its stake in Canadian Imperial Bank of Commerce by 14.6% in the fourth quarter. Ritholtz Wealth Management now owns 16,393 shares of the bank’s stock valued at $1,037,000 after acquiring an additional 2,085 shares during the last quarter. HB Wealth Management LLC bought a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at approximately $228,000. Nexus Investment Management ULC increased its stake in shares of Canadian Imperial Bank of Commerce by 0.9% during the 4th quarter. Nexus Investment Management ULC now owns 74,142 shares of the bank’s stock worth $4,679,000 after purchasing an additional 640 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Canadian Imperial Bank of Commerce by 27.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,161 shares of the bank’s stock worth $73,000 after purchasing an additional 250 shares during the period. 49.88% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CM shares. Jefferies Financial Group downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Monday, April 21st. StockNews.com raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. Finally, Scotiabank started coverage on shares of Canadian Imperial Bank of Commerce in a report on Thursday. They set a “sector outperform” rating on the stock. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.00.

Canadian Imperial Bank of Commerce Price Performance

Canadian Imperial Bank of Commerce stock opened at $66.27 on Monday. The firm has a market capitalization of $62.30 billion, a P/E ratio of 12.39, a PEG ratio of 1.62 and a beta of 1.06. Canadian Imperial Bank of Commerce has a one year low of $46.99 and a one year high of $67.45. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. The business has a fifty day moving average price of $59.39 and a 200-day moving average price of $61.72.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 28th. Shareholders of record on Friday, March 28th were paid a $0.6723 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $2.69 annualized dividend and a yield of 4.06%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 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.