Y Intercept Hong Kong Ltd Purchases Shares of 5,828 Canadian Imperial Bank of Commerce (NYSE:CM)

Y Intercept Hong Kong Ltd purchased a new stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 5,828 shares of the bank's stock, valued at approximately $328,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital International Investors bought a new position in Canadian Imperial Bank of Commerce in the fourth quarter worth about $424,386,000. FIL Ltd grew its position in 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 buying an additional 4,321,451 shares during the last quarter. Mackenzie Financial Corp grew its position in Canadian Imperial Bank of Commerce by 41.1% in the fourth quarter. Mackenzie Financial Corp now owns 6,835,795 shares of the bank's stock worth $431,952,000 after buying an additional 1,990,520 shares during the last quarter. Geode Capital Management LLC grew its position in Canadian Imperial Bank of Commerce by 31.3% in the fourth quarter. Geode Capital Management LLC now owns 5,573,202 shares of the bank's stock worth $357,480,000 after buying an additional 1,327,967 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Canadian Imperial Bank of Commerce by 26.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 4,031,116 shares of the bank's stock worth $255,338,000 after purchasing an additional 844,010 shares in the last quarter. 49.88% of the stock is owned by hedge funds and other institutional investors.

Canadian Imperial Bank of Commerce Stock Performance

CM stock traded up $0.36 during trading hours on Friday, reaching $71.80. The stock had a trading volume of 989,853 shares, compared to its average volume of 1,181,297. The stock has a market capitalization of $66.88 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 1.56 and a beta of 1.05. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a 50-day simple moving average of $70.56 and a 200 day simple moving average of $63.98. Canadian Imperial Bank of Commerce has a fifty-two week low of $47.55 and a fifty-two week high of $74.63.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last posted its earnings results on Thursday, May 29th. The bank reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.34 by $0.10. The company had revenue of $5.09 billion during the quarter, compared to analysts' expectations of $4.78 billion. Canadian Imperial Bank of Commerce had a net margin of 12.19% and a return on equity of 14.51%. Canadian Imperial Bank of Commerce's quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.75 EPS. Analysts predict that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 28th. Shareholders of record on Friday, June 27th were paid a $0.7024 dividend. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. The ex-dividend date was Friday, June 27th. This represents a $2.81 annualized dividend and a yield of 3.9%. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 49.56%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CM shares. BMO Capital Markets lifted their target price on shares of Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. National Bank Financial downgraded shares of Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a report on Friday, May 30th. Scotiabank initiated coverage on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 15th. They issued a "sector outperform" rating on the stock. Jefferies Financial Group cut shares of Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a research note on Monday, April 21st. Finally, Wall Street Zen lowered shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $109.00.

Canadian Imperial Bank of Commerce 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.