Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM saw a large growth in short interest in March. As of March 31st, there was short interest totalling 30,020,000 shares, a growth of 88.8% from the March 15th total of 15,900,000 shares. Based on an average daily volume of 1,890,000 shares, the short-interest ratio is currently 15.9 days. Currently, 3.2% of the shares of the company are sold short.
Hedge Funds Weigh In On Canadian Imperial Bank of Commerce
Several institutional investors have recently made changes to their positions in CM. Bruce G. Allen Investments LLC purchased a new stake in Canadian Imperial Bank of Commerce in the 4th quarter worth $33,000. Glassman Wealth Services increased its holdings in Canadian Imperial Bank of Commerce by 57.5% in the 4th quarter. Glassman Wealth Services now owns 693 shares of the bank's stock worth $33,000 after acquiring an additional 253 shares in the last quarter. Janiczek Wealth Management LLC increased its holdings in Canadian Imperial Bank of Commerce by 34.9% in the 4th quarter. Janiczek Wealth Management LLC now owns 859 shares of the bank's stock worth $41,000 after acquiring an additional 222 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Canadian Imperial Bank of Commerce by 277.9% in the 1st quarter. NewEdge Advisors LLC now owns 1,126 shares of the bank's stock worth $48,000 after acquiring an additional 828 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Canadian Imperial Bank of Commerce by 574.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,066 shares of the bank's stock worth $51,000 after acquiring an additional 908 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
Shares of NYSE:CM traded down $0.63 during trading on Friday, hitting $48.03. 1,126,918 shares of the stock traded hands, compared to its average volume of 1,596,398. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.16. The company has a market cap of $45.03 billion, a price-to-earnings ratio of 9.92, a P/E/G ratio of 2.28 and a beta of 1.06. The company has a fifty day moving average price of $48.18 and a two-hundred day moving average price of $43.99. Canadian Imperial Bank of Commerce has a 52-week low of $34.35 and a 52-week high of $51.14.
Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last posted its earnings results on Thursday, February 29th. The bank reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.10. The firm had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.47 billion. Canadian Imperial Bank of Commerce had a net margin of 10.79% and a return on equity of 13.07%. As a group, equities analysts predict that Canadian Imperial Bank of Commerce will post 5.04 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, April 29th. Stockholders of record on Thursday, March 28th will be issued a dividend of $0.6634 per share. This represents a $2.65 annualized dividend and a dividend yield of 5.52%. This is a positive change from Canadian Imperial Bank of Commerce's previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, March 27th. Canadian Imperial Bank of Commerce's payout ratio is 26.45%.
Wall Street Analyst Weigh In
A number of analysts recently commented on the stock. National Bank Financial upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating in a research note on Wednesday, December 20th. Bank of America upgraded shares of Canadian Imperial Bank of Commerce from an "underperform" rating to a "neutral" rating in a research note on Monday, December 18th. Barclays assumed coverage on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, March 20th. They set an "underweight" rating for the company. Scotiabank upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to a "sector outperform" rating in a research note on Tuesday, February 20th. Finally, Jefferies Financial Group assumed coverage on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, February 22nd. They set a "buy" rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to MarketBeat, Canadian Imperial Bank of Commerce has an average rating of "Moderate Buy" and a consensus target price of $63.00.
Check Out Our Latest Stock Report on CM
About Canadian Imperial Bank of Commerce
(
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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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