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Polar Asset Management Partners Inc. Has $1.25 Million Position in Canadian Imperial Bank of Commerce (NYSE:CM)

Canadian Imperial Bank of Commerce logo with Finance background

Polar Asset Management Partners Inc. lowered its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM by 20.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,837 shares of the bank's stock after selling 5,163 shares during the period. Polar Asset Management Partners Inc.'s holdings in Canadian Imperial Bank of Commerce were worth $1,254,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 6.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,857,844 shares of the bank's stock valued at $359,320,000 after purchasing an additional 334,545 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Canadian Imperial Bank of Commerce by 12.6% during the 4th quarter. Rhumbline Advisers now owns 3,622 shares of the bank's stock valued at $229,000 after purchasing an additional 404 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 8.5% during the 4th quarter. American Century Companies Inc. now owns 299,211 shares of the bank's stock valued at $18,927,000 after purchasing an additional 23,403 shares in the last quarter. Capital International Investors bought a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at about $424,386,000. Finally, Smith Group Asset Management LLC bought a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter valued at about $4,875,000. Institutional investors own 49.88% of the company's stock.

Analyst Ratings Changes

CM has been the topic of several research reports. Jefferies Financial Group cut Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. Royal Bank of Canada lifted their price objective on shares of Canadian Imperial Bank of Commerce from $108.00 to $116.00 and gave the company an "outperform" rating in a report on Friday. Scotiabank started coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 15th. They issued a "sector outperform" rating on the stock. Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, National Bank Financial lowered shares of 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $109.00.

Check Out Our Latest Stock Report on Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce Stock Up 0.1%

CM traded up $0.08 during trading on Friday, reaching $67.94. 897,899 shares of the stock were exchanged, compared to its average volume of 1,126,254. The stock has a market cap of $63.87 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 1.62 and a beta of 1.06. Canadian Imperial Bank of Commerce has a twelve month low of $46.99 and a twelve month high of $69.88. The stock's 50 day moving average price is $61.57 and its two-hundred day moving average price is $61.99. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last issued its earnings results on Thursday, May 29th. The bank reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.34 by $0.10. The business had revenue of $5.09 billion for 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 firm's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.75 earnings per share. Equities analysts expect that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 28th. Investors of record on Friday, June 27th will be issued a dividend of $0.7024 per share. This represents a $2.81 dividend on an annualized basis and a yield of 4.14%. This is an increase from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. The ex-dividend date is Friday, June 27th. Canadian Imperial Bank of Commerce's payout ratio is presently 47.28%.

About Canadian Imperial Bank of Commerce

(Free Report)

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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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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