Dynamic Technology Lab Private Ltd Buys 13,927 Shares of Canadian Imperial Bank of Commerce $CM

Dynamic Technology Lab Private Ltd boosted its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 154.9% in the fourth quarter, Holdings Channel reports. The firm owned 22,920 shares of the bank’s stock after acquiring an additional 13,927 shares during the period. Canadian Imperial Bank of Commerce comprises about 0.5% of Dynamic Technology Lab Private Ltd’s holdings, making the stock its 19th biggest position. Dynamic Technology Lab Private Ltd’s holdings in Canadian Imperial Bank of Commerce were worth $2,077,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC boosted its position in Canadian Imperial Bank of Commerce by 119.7% during the third quarter. Larson Financial Group LLC now owns 402 shares of the bank’s stock worth $32,000 after purchasing an additional 219 shares during the period. Lodestone Wealth Management LLC bought a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $37,000. Smartleaf Asset Management LLC boosted its position in Canadian Imperial Bank of Commerce by 128.1% during the third quarter. Smartleaf Asset Management LLC now owns 723 shares of the bank’s stock worth $58,000 after purchasing an additional 406 shares during the period. Aventura Private Wealth LLC bought a new stake in Canadian Imperial Bank of Commerce during the fourth quarter worth approximately $69,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its position in Canadian Imperial Bank of Commerce by 87.0% during the third quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 860 shares of the bank’s stock worth $69,000 after purchasing an additional 400 shares during the period. Institutional investors own 49.88% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CM. Scotiabank cut Canadian Imperial Bank of Commerce from an “outperform” rating to a “sector perform” rating in a research report on Monday, June 1st. Barclays reaffirmed an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a research report on Monday, June 1st. Zacks Research cut Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 28th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 28th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, May 12th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $167.00.

Canadian Imperial Bank of Commerce Stock Up 1.5%

Shares of CM stock opened at $113.51 on Friday. Canadian Imperial Bank of Commerce has a 12 month low of $67.46 and a 12 month high of $117.05. The firm has a market cap of $103.61 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 1.20 and a beta of 1.02. The stock has a 50 day moving average of $108.86 and a 200-day moving average of $99.12. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings results on Thursday, May 28th. The bank reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.08. Canadian Imperial Bank of Commerce had a return on equity of 16.31% and a net margin of 15.84%.The company had revenue of $5.89 billion during the quarter, compared to analyst estimates of $5.86 billion. During the same period in the previous year, the company earned $2.05 earnings per share. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. On average, equities analysts predict that Canadian Imperial Bank of Commerce will post 7.43 EPS for the current year.

Canadian Imperial Bank of Commerce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Monday, June 29th will be issued a dividend of $1.07 per share. The ex-dividend date is Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.8%. Canadian Imperial Bank of Commerce’s payout ratio is 43.13%.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.