PDT Partners LLC Invests $9.22 Million in Canadian Imperial Bank of Commerce $CM

PDT Partners LLC acquired a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the second quarter, Holdings Channel reports. The institutional investor acquired 80,181 shares of the bank’s stock, valued at approximately $9,221,000.

Other institutional investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its holdings in Canadian Imperial Bank of Commerce by 1.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 9,716 shares of the bank’s stock worth $880,000 after purchasing an additional 114 shares during the last quarter. Sivia Capital Partners LLC increased its stake in Canadian Imperial Bank of Commerce by 3.1% in the 4th quarter. Sivia Capital Partners LLC now owns 3,832 shares of the bank’s stock valued at $347,000 after buying an additional 116 shares during the last quarter. Parallel Advisors LLC lifted its position in Canadian Imperial Bank of Commerce by 3.5% during the 3rd quarter. Parallel Advisors LLC now owns 3,404 shares of the bank’s stock worth $272,000 after buying an additional 116 shares in the last quarter. McIlrath & Eck LLC lifted its position in Canadian Imperial Bank of Commerce by 7.1% during the 4th quarter. McIlrath & Eck LLC now owns 1,936 shares of the bank’s stock worth $175,000 after buying an additional 128 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Canadian Imperial Bank of Commerce by 12.7% during the 4th quarter. Fifth Third Bancorp now owns 1,337 shares of the bank’s stock worth $121,000 after buying an additional 151 shares during the last quarter. Institutional investors own 49.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CM. Scotiabank restated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, June 16th. Raymond James Financial reaffirmed a “market perform” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, May 12th. Royal Bank Of Canada lifted their price objective on shares of Canadian Imperial Bank of Commerce from $147.00 to $167.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Keefe, Bruyette & Woods started coverage on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 21st. They set a “market perform” rating on the stock. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 28th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $167.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of NYSE CM opened at $118.44 on Wednesday. Canadian Imperial Bank of Commerce has a 12 month low of $72.61 and a 12 month high of $124.86. The stock has a 50 day moving average of $117.24 and a 200-day moving average of $108.67. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $108.11 billion, a P/E ratio of 16.27, a P/E/G ratio of 1.20 and a beta of 1.01.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.08. The firm had revenue of $5.89 billion during the quarter, compared to analysts’ expectations of $5.86 billion. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.05 earnings per share. As a group, equities research analysts predict that Canadian Imperial Bank of Commerce will post 7.41 EPS for the current year.

Canadian Imperial Bank of Commerce Profile

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.