Penserra Capital Management LLC Purchases 954 Shares of Canadian Imperial Bank of Commerce $CM

Penserra Capital Management LLC boosted its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1,177.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,035 shares of the bank’s stock after acquiring an additional 954 shares during the period. Penserra Capital Management LLC’s holdings in Canadian Imperial Bank of Commerce were worth $72,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CM. Truvestments Capital LLC bought a new position in Canadian Imperial Bank of Commerce in the 1st quarter valued at $32,000. Ameritas Advisory Services LLC bought a new stake in Canadian Imperial Bank of Commerce during the second quarter valued at $34,000. Atlantic Union Bankshares Corp purchased a new position in Canadian Imperial Bank of Commerce during the second quarter worth about $35,000. Caitong International Asset Management Co. Ltd grew its position in Canadian Imperial Bank of Commerce by 576.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,638 shares of the bank’s stock worth $92,000 after buying an additional 1,396 shares in the last quarter. Finally, SouthState Corp increased its stake in Canadian Imperial Bank of Commerce by 1,871.6% in the 1st quarter. SouthState Corp now owns 2,011 shares of the bank’s stock worth $113,000 after acquiring an additional 1,909 shares during the last quarter. 49.88% of the stock is currently owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Stock Down 1.0%

Shares of NYSE CM opened at $86.15 on Friday. The stock has a market capitalization of $80.01 billion, a P/E ratio of 14.55, a PEG ratio of 1.76 and a beta of 1.03. Canadian Imperial Bank of Commerce has a one year low of $53.62 and a one year high of $87.29. The firm’s 50 day simple moving average is $81.45 and its two-hundred day simple moving average is $74.17. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.04 and a quick ratio of 1.04.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, August 28th. The bank reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.12 billion. Canadian Imperial Bank of Commerce had a net margin of 12.94% and a return on equity of 14.67%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.93 EPS. As a group, analysts expect that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 28th. Stockholders of record on Monday, September 29th were paid a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.5%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Monday, September 29th. Canadian Imperial Bank of Commerce’s payout ratio is 47.64%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wall Street Zen upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Monday, November 3rd. Royal Bank Of Canada lifted their target price on shares of 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. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and an average target price of $107.50.

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.