Y Intercept Hong Kong Ltd Acquires New Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Y Intercept Hong Kong Ltd purchased a new position in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,828 shares of the bank's stock, valued at approximately $328,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CM. Toronto Dominion Bank raised its position in shares of Canadian Imperial Bank of Commerce by 1.1% in the 4th quarter. Toronto Dominion Bank now owns 22,138,015 shares of the bank's stock worth $1,398,619,000 after purchasing an additional 234,088 shares during the last quarter. FIL Ltd increased its holdings in Canadian Imperial Bank of Commerce by 53.6% in the 4th 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 in the last quarter. Mackenzie Financial Corp increased its holdings in Canadian Imperial Bank of Commerce by 41.1% in the 4th 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 in the last quarter. Capital International Investors bought a new stake in Canadian Imperial Bank of Commerce in the 4th quarter worth about $424,386,000. Finally, Geode Capital Management LLC increased its holdings in Canadian Imperial Bank of Commerce by 31.3% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Price Performance

NYSE CM traded up $0.36 during trading hours on Friday, reaching $71.80. The company's stock had a trading volume of 989,853 shares, compared to its average volume of 1,294,064. The firm's 50-day moving average price is $70.63 and its 200-day moving average price is $64.05. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16. Canadian Imperial Bank of Commerce has a 1 year low of $47.55 and a 1 year high of $74.63. The company has a market capitalization of $66.88 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.55 and a beta of 1.06.

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 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.10. The company had revenue of $5.09 billion for the quarter, compared to analysts' expectations of $4.78 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.51% and a net margin of 12.19%. The firm's revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.75 EPS. On average, equities research 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 given a $0.7024 dividend. This is a boost from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.67. The ex-dividend date of this dividend 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 currently 49.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Jefferies Financial Group downgraded Canadian Imperial Bank of Commerce from a "buy" rating to a "hold" rating in a report on Monday, April 21st. National Bank Financial downgraded Canadian Imperial Bank of Commerce from an "outperform" rating to a "sector perform" rating in a research note on Friday, May 30th. BMO Capital Markets boosted their price target on 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. Scotiabank initiated coverage on Canadian Imperial Bank of Commerce in a research note on Thursday, May 15th. They set a "sector outperform" rating for the company. Finally, Wall Street Zen cut 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 assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus 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.