Dynamic Technology Lab Private Ltd boosted its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM – Free Report) (TSE:CM) by 154.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,920 shares of the bank’s stock after buying an additional 13,927 shares during the period. Canadian Imperial Bank of Commerce comprises 0.5% of Dynamic Technology Lab Private Ltd’s investment portfolio, making the stock its 19th largest holding. Dynamic Technology Lab Private Ltd’s holdings in Canadian Imperial Bank of Commerce were worth $2,077,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of CM. HRT Financial LP grew its stake in Canadian Imperial Bank of Commerce by 71.7% during the 4th quarter. HRT Financial LP now owns 12,776 shares of the bank’s stock valued at $1,157,000 after acquiring an additional 5,335 shares in the last quarter. Orion Porfolio Solutions LLC grew its stake in Canadian Imperial Bank of Commerce by 4.0% during the 4th quarter. Orion Porfolio Solutions LLC now owns 19,331 shares of the bank’s stock valued at $1,752,000 after acquiring an additional 736 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Canadian Imperial Bank of Commerce by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,165,969 shares of the bank’s stock valued at $286,888,000 after acquiring an additional 21,992 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ grew its stake in Canadian Imperial Bank of Commerce by 1.1% during the 4th quarter. Lansforsakringar Fondforvaltning AB publ now owns 219,195 shares of the bank’s stock valued at $19,897,000 after acquiring an additional 2,404 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in Canadian Imperial Bank of Commerce by 24.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,406 shares of the bank’s stock valued at $127,000 after acquiring an additional 272 shares in the last quarter. Institutional investors and hedge funds own 49.88% of the company’s stock.
Analyst Upgrades and Downgrades
CM has been the topic of several research analyst reports. Weiss Ratings cut Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, June 4th. Barclays reaffirmed an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, June 1st. Raymond James Financial reaffirmed a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, May 12th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 28th. Finally, Scotiabank cut Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research note on Monday, June 1st. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $167.00.
Canadian Imperial Bank of Commerce Trading Up 1.5%
Shares of NYSE CM opened at $113.51 on Friday. The stock has a market cap of $103.61 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 1.20 and a beta of 1.02. The business has a 50 day simple moving average of $108.86 and a 200 day simple moving average of $99.12. Canadian Imperial Bank of Commerce has a 52 week low of $67.46 and a 52 week high of $117.05. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.05 and a current ratio of 1.05.
Canadian Imperial Bank of Commerce (NYSE:CM – Get Free Report) (TSE:CM) last announced its quarterly earnings results on Thursday, May 28th. The bank reported $1.86 EPS for the quarter, beating the consensus estimate of $1.78 by $0.08. The business had revenue of $5.89 billion during the quarter, compared to analysts’ expectations of $5.86 billion. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The firm’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.05 EPS. On average, research analysts predict that Canadian Imperial Bank of Commerce will post 7.43 earnings per share for the current fiscal year.
Canadian Imperial Bank of Commerce Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Investors of record on Monday, June 29th will be paid a $1.07 dividend. The ex-dividend date of this dividend is Monday, June 29th. This represents a $4.28 annualized dividend and a dividend yield of 3.8%. Canadian Imperial Bank of Commerce’s payout ratio is presently 43.13%.
Canadian Imperial Bank of Commerce Profile
Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.
CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.
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