Canadian Imperial Bank of Commerce (CM) Stake Lowered by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. trimmed its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 96.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,229 shares of the bank’s stock after selling 129,389 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CM. Financial Gravity Companies Inc. bought a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at about $38,000. Capital Investment Advisory Services LLC bought a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at about $37,000. Laurel Wealth Advisors LLC bought a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at about $39,000. Winslow Evans & Crocker Inc. raised its stake in Canadian Imperial Bank of Commerce by 126.0% in the 4th quarter. Winslow Evans & Crocker Inc. now owns 556 shares of the bank’s stock valued at $42,000 after acquiring an additional 310 shares during the period. Finally, Lindbrook Capital LLC bought a new stake in Canadian Imperial Bank of Commerce in the 4th quarter valued at about $59,000. Institutional investors own 46.69% of the company’s stock.

A number of equities research analysts recently issued reports on the company. ValuEngine upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th. Canaccord Genuity restated an “average” rating and issued a $125.00 price objective on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, February 20th. Scotiabank restated an “average” rating and issued a $126.00 price objective on shares of Canadian Imperial Bank of Commerce in a research note on Friday, February 22nd. Zacks Investment Research cut Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 4th. Finally, Barclays restated an “average” rating and issued a $123.00 price objective on shares of Canadian Imperial Bank of Commerce in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and a consensus target price of $125.43.

Shares of CM opened at $82.52 on Tuesday. Canadian Imperial Bank of Commerce has a twelve month low of $72.96 and a twelve month high of $96.98. The stock has a market cap of $36.58 billion, a PE ratio of 8.84, a P/E/G ratio of 4.85 and a beta of 1.14. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.12.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, February 28th. The bank reported $2.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.37 by ($0.11). Canadian Imperial Bank of Commerce had a net margin of 19.44% and a return on equity of 16.70%. The company had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.51 billion. As a group, sell-side analysts predict that Canadian Imperial Bank of Commerce will post 9.42 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Stockholders of record on Thursday, March 28th will be given a dividend of $1.0616 per share. The ex-dividend date is Wednesday, March 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.03. This represents a $4.25 annualized dividend and a dividend yield of 5.15%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 45.50%.

WARNING: “Canadian Imperial Bank of Commerce (CM) Stake Lowered by D. E. Shaw & Co. Inc.” was originally published by Markets Daily and is the property of of Markets Daily. If you are reading this report on another website, it was stolen and republished in violation of U.S. & international trademark & copyright law. The legal version of this report can be accessed at https://www.themarketsdaily.com/2019/04/16/canadian-imperial-bank-of-commerce-cm-stake-lowered-by-d-e-shaw-co-inc.html.

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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

Featured Story: Retained Earnings

Want to see what other hedge funds are holding CM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM).

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

Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.