XTX Topco Ltd Grows Stock Holdings in Canadian Imperial Bank of Commerce $CM

XTX Topco Ltd lifted its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 691.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,107 shares of the bank’s stock after purchasing an additional 60,377 shares during the quarter. XTX Topco Ltd’s holdings in Canadian Imperial Bank of Commerce were worth $4,895,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CM. Truvestments Capital LLC purchased a new stake in Canadian Imperial Bank of Commerce in the 1st quarter valued at about $32,000. Ameritas Advisory Services LLC acquired a new position in Canadian Imperial Bank of Commerce during the second quarter worth approximately $34,000. Atlantic Union Bankshares Corp purchased a new position in Canadian Imperial Bank of Commerce during the second quarter worth approximately $35,000. MAI Capital Management grew its stake in shares of Canadian Imperial Bank of Commerce by 57.5% during the 2nd quarter. MAI Capital Management now owns 737 shares of the bank’s stock valued at $52,000 after buying an additional 269 shares during the period. Finally, Penserra Capital Management LLC raised its position in shares of Canadian Imperial Bank of Commerce by 1,177.8% in the 2nd quarter. Penserra Capital Management LLC now owns 1,035 shares of the bank’s stock worth $72,000 after buying an additional 954 shares during the period. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CM has been the subject of a number of research reports. Royal Bank Of Canada boosted their price target on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the company an “outperform” rating in a research report on Friday, August 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, October 8th. Raymond James Financial assumed coverage on shares of Canadian Imperial Bank of Commerce in a report on Tuesday. They set a “market perform” rating on the stock. Finally, Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Monday, November 3rd. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of “Moderate Buy” and an average price target of $107.50.

Canadian Imperial Bank of Commerce Trading Down 0.0%

NYSE CM opened at $84.06 on Tuesday. The stock has a market cap of $78.07 billion, a P/E ratio of 14.20, a PEG ratio of 1.76 and a beta of 1.03. The company’s fifty day simple moving average is $82.32 and its 200-day simple moving average is $75.40. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a 52 week low of $53.62 and a 52 week high of $87.37.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, August 28th. The bank reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.14. Canadian Imperial Bank of Commerce had a net margin of 12.94% and a return on equity of 14.67%. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.12 billion. During the same quarter in the previous year, the firm posted $1.93 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Equities research analysts predict that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 28th. Stockholders of record on Monday, September 29th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Monday, September 29th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.6%. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 47.64%.

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.