Canadian Imperial Bank of Commerce (NYSE:CM) Short Interest Update

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 19,810,000 shares, a growth of 39.1% from the April 30th total of 14,240,000 shares. Approximately 2.2% of the company's shares are sold short. Based on an average daily volume of 1,140,000 shares, the short-interest ratio is currently 17.4 days.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CM shares. Jefferies Financial Group downgraded Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Wall Street Zen raised Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. National Bank Financial cut Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a report on Friday. Royal Bank of Canada increased their target price on shares of Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, Scotiabank began coverage on Canadian Imperial Bank of Commerce in a research note on Thursday, May 15th. They issued a "sector outperform" rating for the company. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce has a consensus rating of "Moderate Buy" and an average target price of $109.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM stock traded up $0.01 during trading on Tuesday, hitting $67.76. The company's stock had a trading volume of 931,372 shares, compared to its average volume of 1,126,386. The business has a fifty day moving average of $61.76 and a 200-day moving average of $62.00. The company has a market cap of $63.70 billion, a PE ratio of 12.66, a P/E/G ratio of 1.62 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 52 week low of $46.99 and a 52 week high of $69.88. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last posted its quarterly earnings results on Thursday, May 29th. The bank reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.10. The company had revenue of $5.09 billion during the quarter, compared to analyst estimates of $4.78 billion. Canadian Imperial Bank of Commerce had a net margin of 11.10% and a return on equity of 14.01%. The firm's revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.75 earnings per share. As a group, research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be paid a $0.7024 dividend. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. The ex-dividend date of this dividend is Friday, June 27th. This represents a $2.81 annualized dividend and a yield of 4.15%. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 47.28%.

Hedge Funds Weigh In On Canadian Imperial Bank of Commerce

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Canadian Imperial Bank of Commerce by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 40,028,162 shares of the bank's stock valued at $2,251,664,000 after buying an additional 642,924 shares during the last quarter. TD Asset Management Inc. raised its stake in Canadian Imperial Bank of Commerce by 3.7% in the 4th quarter. TD Asset Management Inc. now owns 23,600,495 shares of the bank's stock valued at $1,492,138,000 after acquiring an additional 851,164 shares during the period. Toronto Dominion Bank lifted its holdings in Canadian Imperial Bank of Commerce by 1.1% during the fourth quarter. Toronto Dominion Bank now owns 22,138,015 shares of the bank's stock valued at $1,398,619,000 after purchasing an additional 234,088 shares during the last quarter. Bank of Nova Scotia lifted its holdings in Canadian Imperial Bank of Commerce by 4.5% during the first quarter. Bank of Nova Scotia now owns 17,967,436 shares of the bank's stock valued at $1,010,849,000 after purchasing an additional 773,174 shares during the last quarter. Finally, FIL Ltd increased its stake in shares of Canadian Imperial Bank of Commerce by 53.6% in the fourth quarter. FIL Ltd now owns 12,387,607 shares of the bank's stock worth $783,613,000 after purchasing an additional 4,321,451 shares in the last quarter. 49.88% of the stock is owned by institutional investors.

About Canadian Imperial Bank of Commerce

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.