Canadian Imperial Bank of Commerce $CM Shares Acquired by Twin Tree Management LP

Twin Tree Management LP lifted its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 31.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 186,049 shares of the bank’s stock after acquiring an additional 44,120 shares during the period. Twin Tree Management LP’s holdings in Canadian Imperial Bank of Commerce were worth $10,475,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CM. Baird Financial Group Inc. raised its holdings in shares of Canadian Imperial Bank of Commerce by 32.3% in the 1st quarter. Baird Financial Group Inc. now owns 40,130 shares of the bank’s stock worth $2,259,000 after purchasing an additional 9,798 shares during the period. Canada Pension Plan Investment Board lifted its position in Canadian Imperial Bank of Commerce by 23.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 6,055,999 shares of the bank’s stock worth $340,721,000 after acquiring an additional 1,133,715 shares in the last quarter. Trexquant Investment LP acquired a new position in Canadian Imperial Bank of Commerce during the 1st quarter worth approximately $299,000. Lansforsakringar Fondforvaltning AB publ raised its position in shares of Canadian Imperial Bank of Commerce by 0.5% in the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 210,019 shares of the bank’s stock valued at $11,812,000 after purchasing an additional 1,100 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp raised its position in shares of Canadian Imperial Bank of Commerce by 7.3% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 1,287,112 shares of the bank’s stock valued at $72,393,000 after purchasing an additional 87,198 shares in the last quarter. 49.88% of the stock is owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Up 0.2%

CM opened at $77.20 on Friday. The business has a 50 day moving average price of $72.72 and a 200 day moving average price of $65.57. Canadian Imperial Bank of Commerce has a twelve month low of $53.62 and a twelve month high of $77.73. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $71.75 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 1.69 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Thursday, August 28th. The bank reported $1.57 EPS for the quarter, topping the consensus estimate of $1.43 by $0.14. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.12 billion. Canadian Imperial Bank of Commerce had a return on equity of 14.79% and a net margin of 12.94%.The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.93 EPS. Research analysts forecast that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 28th. Shareholders of record on Monday, September 29th will be paid a $0.97 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. This represents a $3.88 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Monday, September 29th. Canadian Imperial Bank of Commerce’s payout ratio is presently 49.56%.

Analyst Ratings Changes

A number of equities analysts have issued reports on CM shares. Royal Bank Of Canada upped their target price on Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the company an “outperform” rating in a research report on Friday. BMO Capital Markets upped their price objective on Canadian Imperial Bank of Commerce from $98.00 to $102.00 and gave the stock an “outperform” rating in a research note on Friday, May 30th. Scotiabank started coverage on Canadian Imperial Bank of Commerce in a research note on Thursday, May 15th. They issued a “sector outperform” rating for the company. Wall Street Zen raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Finally, National Bank Financial cut Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research note on Friday, May 30th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.50.

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.