Trexquant Investment LP acquired a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,883 shares of the bank’s stock, valued at approximately $432,000.
Several other large investors have also made changes to their positions in the company. Logan Capital Management Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 84.4% during the third quarter. Logan Capital Management Inc. now owns 15,184 shares of the bank’s stock worth $1,690,000 after buying an additional 6,950 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Canadian Imperial Bank of Commerce by 17.1% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,139,532 shares of the bank’s stock worth $126,702,000 after purchasing an additional 166,566 shares during the period. Intact Investment Management Inc. grew its position in Canadian Imperial Bank of Commerce by 37.8% in the 3rd quarter. Intact Investment Management Inc. now owns 608,220 shares of the bank’s stock valued at $85,747,000 after buying an additional 166,800 shares during the last quarter. Capital Fund Management S.A. acquired a new position in Canadian Imperial Bank of Commerce in the 3rd quarter valued at $3,010,000. Finally, Geode Capital Management LLC raised its position in Canadian Imperial Bank of Commerce by 13.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,163,637 shares of the bank’s stock worth $129,300,000 after buying an additional 136,519 shares during the last quarter. 44.67% of the stock is owned by institutional investors and hedge funds.
CM has been the subject of several analyst reports. Royal Bank of Canada increased their price target on shares of Canadian Imperial Bank of Commerce from $158.00 to $169.00 and gave the stock an “outperform” rating in a report on Friday, December 3rd. Barclays cut Canadian Imperial Bank of Commerce from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $162.00 to $169.00 in a report on Wednesday, January 19th. dropped their price objective on Canadian Imperial Bank of Commerce from $163.00 to $161.00 and set a “buy” rating on the stock in a report on Friday, December 3rd. Zacks Investment Research downgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Tuesday, February 1st. Finally, CIBC decreased their price objective on shares of Canadian Imperial Bank of Commerce from C$168.00 to C$165.00 and set an “outperform” rating on the stock in a report on Friday, December 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce presently has an average rating of “Buy” and a consensus target price of $158.90.
NYSE:CM opened at $131.00 on Wednesday. The firm has a market cap of $59.05 billion, a price-to-earnings ratio of 11.82, a price-to-earnings-growth ratio of 2.97 and a beta of 1.05. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average is $120.33 and its two-hundred day moving average is $118.13. Canadian Imperial Bank of Commerce has a 12-month low of $88.37 and a 12-month high of $132.48.
Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, December 2nd. The bank reported $3.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.80 by $0.57. Canadian Imperial Bank of Commerce had a net margin of 27.61% and a return on equity of 16.57%. The business had revenue of $5.06 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the previous year, the business posted $2.79 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. On average, equities research analysts forecast that Canadian Imperial Bank of Commerce will post 11.28 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 28th. Shareholders of record on Wednesday, December 29th were issued a $1.26 dividend. The ex-dividend date was Tuesday, December 28th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.16. This represents a $5.04 annualized dividend and a yield of 3.85%. Canadian Imperial Bank of Commerce’s payout ratio is 45.49%.
Canadian Imperial Bank of Commerce Profile
Canadian Imperial Bank of Commerce is a financial institution, which engages in the provision of banking and wealth management services. It operates through the following segments: Canadian Personal and Small Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, Capital Markets, and Corporate and Other.
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