Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC trimmed its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 11.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,412,364 shares of the bank’s stock after selling 178,300 shares during the quarter. Renaissance Technologies LLC owned approximately 0.32% of Canadian Imperial Bank of Commerce worth $117,509,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the business. Huntington National Bank acquired a new stake in Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $25,000. Allworth Financial LP bought a new position in shares of Canadian Imperial Bank of Commerce in the fourth quarter valued at approximately $83,000. Wealthcare Advisory Partners LLC increased its position in Canadian Imperial Bank of Commerce by 57.7% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 1,025 shares of the bank’s stock worth $85,000 after acquiring an additional 375 shares during the period. Banque Cantonale Vaudoise bought a new position in Canadian Imperial Bank of Commerce during the fourth quarter worth $103,000. Finally, Cutler Group LP increased its position in Canadian Imperial Bank of Commerce by 1,405.0% during the fourth quarter. Cutler Group LP now owns 1,305 shares of the bank’s stock worth $108,000 after acquiring an additional 1,405 shares during the period. Institutional investors own 45.40% of the company’s stock.

NYSE:CM traded down $10.80 on Thursday, hitting $51.38. 106,523 shares of the stock were exchanged, compared to its average volume of 629,678. The stock has a market capitalization of $28.62 billion, a price-to-earnings ratio of 6.07, a P/E/G ratio of 2.02 and a beta of 1.00. Canadian Imperial Bank of Commerce has a 52 week low of $62.09 and a 52 week high of $87.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.05 and a current ratio of 1.05. The company’s 50-day moving average price is $80.19 and its 200 day moving average price is $82.42.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Wednesday, February 26th. The bank reported $3.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.24 by $1.00. The firm had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Canadian Imperial Bank of Commerce had a return on equity of 15.66% and a net margin of 17.70%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $3.01 EPS. As a group, equities research analysts predict that Canadian Imperial Bank of Commerce will post 9.13 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 28th. Stockholders of record on Friday, March 27th will be paid a $1.0955 dividend. The ex-dividend date of this dividend is Thursday, March 26th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.09. This represents a $4.38 dividend on an annualized basis and a dividend yield of 8.53%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 48.38%.

CM has been the topic of several analyst reports. Royal Bank of Canada reissued a “hold” rating and issued a $120.00 price target on shares of Canadian Imperial Bank of Commerce in a report on Thursday, February 27th. Zacks Investment Research upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Friday, February 7th. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a research note on Tuesday, February 4th. Credit Suisse Group boosted their target price on shares of Canadian Imperial Bank of Commerce from $108.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Finally, Citigroup downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $108.75.

Canadian Imperial Bank of Commerce 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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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

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