First Horizon Advisors Inc. Has $27,000 Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

First Horizon Advisors Inc. lessened its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 53.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 432 shares of the bank’s stock after selling 501 shares during the quarter. First Horizon Advisors Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $27,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Public Sector Pension Investment Board lifted its position in shares of Canadian Imperial Bank of Commerce by 32.0% in the third quarter. Public Sector Pension Investment Board now owns 3,713,539 shares of the bank’s stock worth $228,043,000 after purchasing an additional 900,575 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Canadian Imperial Bank of Commerce by 3.4% in the third quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank’s stock worth $696,659,000 after purchasing an additional 375,837 shares in the last quarter. Atlanta Consulting Group Advisors LLC bought a new stake in Canadian Imperial Bank of Commerce during the third quarter worth $671,000. FMR LLC raised its position in Canadian Imperial Bank of Commerce by 3.3% during the third quarter. FMR LLC now owns 2,106,913 shares of the bank’s stock worth $129,239,000 after acquiring an additional 67,480 shares in the last quarter. Finally, JPMorgan Chase & Co. raised 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 worth $359,320,000 after acquiring an additional 334,545 shares in the last quarter. Institutional investors own 49.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CM shares. Royal Bank of Canada raised shares of Canadian Imperial Bank of Commerce from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $97.00 to $103.00 in a research report on Wednesday, January 8th. StockNews.com raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $92.00.

Canadian Imperial Bank of Commerce Price Performance

NYSE:CM opened at $60.55 on Friday. Canadian Imperial Bank of Commerce has a one year low of $46.50 and a one year high of $67.45. The company has a market cap of $57.06 billion, a P/E ratio of 11.32, a P/E/G ratio of 1.62 and a beta of 1.05. The firm’s fifty day moving average price is $62.48 and its two-hundred day moving average price is $61.84. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be issued a $0.6723 dividend. The ex-dividend date is Friday, March 28th. This represents a $2.69 annualized dividend and a dividend yield of 4.44%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 51.21%.

About Canadian Imperial Bank of Commerce

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.