Two Sigma Advisers LP Sells 100,900 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

Two Sigma Advisers LP reduced its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 74.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,200 shares of the bank's stock after selling 100,900 shares during the quarter. Two Sigma Advisers LP's holdings in Canadian Imperial Bank of Commerce were worth $2,226,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the business. PDS Planning Inc increased its stake in shares of Canadian Imperial Bank of Commerce by 3.8% in the 4th quarter. PDS Planning Inc now owns 5,167 shares of the bank's stock valued at $327,000 after acquiring an additional 189 shares during the last quarter. Mesirow Financial Investment Management Inc. grew its holdings in Canadian Imperial Bank of Commerce by 0.7% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 33,094 shares of the bank's stock valued at $2,092,000 after purchasing an additional 222 shares during the period. Fifth Third Bancorp grew its holdings in shares of Canadian Imperial Bank of Commerce by 5.7% in the 4th quarter. Fifth Third Bancorp now owns 4,971 shares of the bank's stock valued at $314,000 after buying an additional 270 shares during the period. Sequoia Financial Advisors LLC raised its stake in Canadian Imperial Bank of Commerce by 7.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,977 shares of the bank's stock worth $251,000 after buying an additional 279 shares during the period. Finally, Five Oceans Advisors lifted its holdings in Canadian Imperial Bank of Commerce by 8.2% during the fourth quarter. Five Oceans Advisors now owns 4,560 shares of the bank's stock worth $288,000 after acquiring an additional 344 shares in the last quarter. 49.88% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Price Performance

Shares of NYSE CM traded down $0.43 during mid-day trading on Monday, reaching $67.51. The company had a trading volume of 131,565 shares, compared to its average volume of 1,122,498. Canadian Imperial Bank of Commerce has a one year low of $46.99 and a one year high of $69.88. The firm has a market cap of $63.47 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 1.62 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The business's 50-day simple moving average is $61.57 and its 200 day simple moving average is $61.97.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last released its earnings results on Thursday, May 29th. The bank reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.10. The business had revenue of $5.09 billion during the quarter, compared to the consensus estimate 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 company's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.75 EPS. On average, research analysts predict that Canadian Imperial Bank of Commerce will post 5.5 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 28th. Stockholders of record on Friday, June 27th will be paid a $0.7024 dividend. The ex-dividend date is Friday, June 27th. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. This represents a $2.81 annualized dividend and a dividend yield of 4.16%. Canadian Imperial Bank of Commerce's dividend payout ratio is 47.28%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. 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. Jefferies Financial Group cut shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research report on Monday, April 21st. Royal Bank of Canada increased their target price on Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the stock an "outperform" rating in a report on Friday. Scotiabank began coverage on Canadian Imperial Bank of Commerce in a report on Thursday, May 15th. They issued a "sector outperform" rating on the stock. Finally, National Bank Financial downgraded Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Canadian Imperial Bank of Commerce presently has a consensus rating of "Moderate Buy" and a consensus target price of $109.00.

Canadian Imperial Bank of Commerce Company Profile

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.