Quantbot Technologies LP bought a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM – Free Report) (TSE:CM) in the second quarter, Holdings Channel reports. The institutional investor bought 38,448 shares of the bank’s stock, valued at approximately $4,422,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Larson Financial Group LLC boosted its holdings in Canadian Imperial Bank of Commerce by 119.7% in the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock worth $32,000 after buying an additional 219 shares during the last quarter. EFG International AG acquired a new position in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $35,000. Bell Investment Advisors Inc purchased a new position in shares of Canadian Imperial Bank of Commerce in the second quarter valued at approximately $36,000. Global Assets Advisory LLC purchased a new position in shares of Canadian Imperial Bank of Commerce in the first quarter valued at approximately $54,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in shares of Canadian Imperial Bank of Commerce by 87.0% in the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock valued at $69,000 after acquiring an additional 400 shares in the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.
Canadian Imperial Bank of Commerce Trading Down 0.1%
Shares of Canadian Imperial Bank of Commerce stock opened at $116.38 on Monday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.05 and a quick ratio of 1.05. The stock’s 50 day simple moving average is $117.13 and its 200-day simple moving average is $108.36. The stock has a market cap of $106.24 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.22 and a beta of 1.01. Canadian Imperial Bank of Commerce has a 1-year low of $72.57 and a 1-year high of $124.86.
Canadian Imperial Bank of Commerce Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 28th. Shareholders of record on Monday, June 29th were issued a $1.07 dividend. This represents a $4.28 annualized dividend and a yield of 3.7%. The ex-dividend date was Monday, June 29th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 42.58%.
Analysts Set New Price Targets
Several brokerages recently commented on CM. Weiss Ratings upgraded Canadian Imperial Bank of Commerce from a “buy (b)” rating to a “buy (b+)” rating in a research report on Friday, July 31st. Jefferies Financial Group restated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 28th. Scotiabank reaffirmed an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, June 16th. Keefe, Bruyette & Woods began coverage on shares of Canadian Imperial Bank of Commerce in a report on Friday. They set a “market perform” rating for the company. Finally, Zacks Research cut shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of “Moderate Buy” and an average target price of $167.00.
Canadian Imperial Bank of Commerce Company 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.
Featured Stories
- Five stocks we like better than Canadian Imperial Bank of Commerce
- VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You?
- 3 Closed-End Funds to Maximize Dividend Payments
- Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy?
- $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over
Want to see what other hedge funds are holding CM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Imperial Bank of Commerce (NYSE:CM – Free Report) (TSE:CM).
Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.
