Y Intercept Hong Kong Ltd lifted its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM – Free Report) (TSE:CM) by 439.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,646 shares of the bank’s stock after acquiring an additional 20,889 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Canadian Imperial Bank of Commerce were worth $2,430,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Investment Management Corp of Ontario increased its holdings in shares of Canadian Imperial Bank of Commerce by 38.6% during the 4th quarter. Investment Management Corp of Ontario now owns 290,749 shares of the bank’s stock worth $26,345,000 after buying an additional 80,914 shares during the last quarter. Legal & General Group Plc increased its stake in Canadian Imperial Bank of Commerce by 2.0% during the fourth quarter. Legal & General Group Plc now owns 6,475,253 shares of the bank’s stock worth $587,790,000 after acquiring an additional 125,069 shares during the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter worth about $11,217,000. Mackenzie Financial Corp raised its holdings in shares of Canadian Imperial Bank of Commerce by 1.1% in the 3rd quarter. Mackenzie Financial Corp now owns 6,380,638 shares of the bank’s stock worth $509,763,000 after purchasing an additional 67,738 shares during the period. Finally, Intech Investment Management LLC lifted its stake in shares of Canadian Imperial Bank of Commerce by 6.5% in the 4th quarter. Intech Investment Management LLC now owns 343,828 shares of the bank’s stock valued at $31,211,000 after purchasing an additional 21,078 shares in the last quarter. 49.88% of the stock is currently owned by hedge funds and other institutional investors.
Canadian Imperial Bank of Commerce Stock Performance
Shares of CM opened at $115.96 on Wednesday. The business’s 50 day moving average is $112.13 and its two-hundred day moving average is $102.19. Canadian Imperial Bank of Commerce has a 52-week low of $71.00 and a 52-week high of $117.05. The firm has a market cap of $105.85 billion, a price-to-earnings ratio of 15.93, a PEG ratio of 1.25 and a beta of 1.02. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11.
Canadian Imperial Bank of Commerce Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Monday, June 29th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, June 29th. Canadian Imperial Bank of Commerce’s payout ratio is 42.58%.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on CM. Raymond James Financial reissued a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, May 12th. Zacks Research downgraded shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Weiss Ratings lowered shares of Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, June 4th. Royal Bank Of Canada increased their price target on Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Finally, Barclays restated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, June 1st. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $167.00.
Check Out Our Latest Stock Report on CM
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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