Entropy Technologies LP bought a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 18,287 shares of the bank's stock, valued at approximately $1,122,000.
Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Canadian Imperial Bank of Commerce by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 35,913,241 shares of the bank's stock valued at $1,821,520,000 after purchasing an additional 675,786 shares in the last quarter. Toronto Dominion Bank grew its holdings in Canadian Imperial Bank of Commerce by 17.9% during the 2nd quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank's stock worth $1,233,272,000 after acquiring an additional 3,942,894 shares in the last quarter. Cibc World Market Inc. increased its holdings in Canadian Imperial Bank of Commerce by 18.9% in the second quarter. Cibc World Market Inc. now owns 19,748,305 shares of the bank's stock valued at $938,834,000 after buying an additional 3,143,734 shares during the last quarter. National Bank of Canada FI lifted its holdings in Canadian Imperial Bank of Commerce by 26.8% during the 2nd quarter. National Bank of Canada FI now owns 18,340,869 shares of the bank's stock worth $867,377,000 after buying an additional 3,875,280 shares during the last quarter. Finally, Legal & General Group Plc boosted its holdings in Canadian Imperial Bank of Commerce by 3.3% in the second quarter. Legal & General Group Plc now owns 7,213,860 shares of the bank's stock worth $342,946,000 after purchasing an additional 228,130 shares during the period. Institutional investors and hedge funds own 49.88% of the company's stock.
A number of research firms have recently issued reports on CM. Desjardins upgraded shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "moderate buy" rating in a research report on Friday, August 2nd. StockNews.com downgraded Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research note on Saturday, October 19th. Cormark upgraded Canadian Imperial Bank of Commerce from a "hold" rating to a "moderate buy" rating in a research report on Friday, August 30th. Bank of America upgraded Canadian Imperial Bank of Commerce from a "neutral" rating to a "buy" rating in a research note on Friday, August 30th. Finally, BMO Capital Markets raised their target price on Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the company an "outperform" rating in a research note on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $81.00.
Read Our Latest Stock Analysis on Canadian Imperial Bank of Commerce
Shares of Canadian Imperial Bank of Commerce stock opened at $64.04 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.05 and a quick ratio of 1.05. Canadian Imperial Bank of Commerce has a 1-year low of $37.97 and a 1-year high of $65.09. The business's fifty day moving average price is $61.78 and its two-hundred day moving average price is $54.10. The company has a market capitalization of $60.49 billion, a P/E ratio of 12.58, a PEG ratio of 1.86 and a beta of 1.06.
Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last issued its quarterly earnings data on Thursday, August 29th. The bank reported $1.93 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.19. The business had revenue of $6.60 billion for the quarter, compared to analysts' expectations of $6.28 billion. Canadian Imperial Bank of Commerce had a net margin of 10.66% and a return on equity of 13.50%. The company's revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.14 earnings per share. As a group, research analysts forecast that Canadian Imperial Bank of Commerce will post 5.34 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Friday, September 27th were issued a dividend of $0.652 per share. The ex-dividend date was Friday, September 27th. This represents a $2.61 annualized dividend and a yield of 4.07%. Canadian Imperial Bank of Commerce's payout ratio is 52.46%.
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.
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