Jefferies Group LLC Increases Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Jefferies Group LLC grew its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 72.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,552 shares of the bank’s stock after purchasing an additional 21,587 shares during the quarter. Jefferies Group LLC’s holdings in Canadian Imperial Bank of Commerce were worth $4,056,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Hilltop Holdings Inc. increased its position in shares of Canadian Imperial Bank of Commerce by 6.2% during the 2nd quarter. Hilltop Holdings Inc. now owns 7,183 shares of the bank’s stock valued at $564,000 after purchasing an additional 421 shares during the last quarter. Man Group plc increased its holdings in Canadian Imperial Bank of Commerce by 5.3% in the 2nd quarter. Man Group plc now owns 295,000 shares of the bank’s stock worth $23,248,000 after acquiring an additional 14,900 shares during the last quarter. Balyasny Asset Management LLC increased its holdings in Canadian Imperial Bank of Commerce by 70.3% in the 2nd quarter. Balyasny Asset Management LLC now owns 213,222 shares of the bank’s stock worth $16,761,000 after acquiring an additional 88,054 shares during the last quarter. Kempen Capital Management N.V. increased its holdings in Canadian Imperial Bank of Commerce by 19.4% in the 2nd quarter. Kempen Capital Management N.V. now owns 261,927 shares of the bank’s stock worth $26,973,000 after acquiring an additional 42,480 shares during the last quarter. Finally, Mackenzie Financial Corp increased its holdings in Canadian Imperial Bank of Commerce by 46.7% in the 2nd quarter. Mackenzie Financial Corp now owns 2,443,838 shares of the bank’s stock worth $191,988,000 after acquiring an additional 778,230 shares during the last quarter. 44.54% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have commented on the company. National Bank Financial restated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research note on Friday, August 23rd. Royal Bank of Canada reiterated a “hold” rating and set a $124.00 price target (down previously from $128.00) on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 23rd. BMO Capital Markets reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 23rd. Zacks Investment Research downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Monday, August 19th. Finally, TD Securities downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating and nine have given a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $120.67.

Shares of NYSE CM traded up $0.18 during trading hours on Friday, reaching $84.00. 43,670 shares of the stock traded hands, compared to its average volume of 741,204. The company has a market capitalization of $37.29 billion, a P/E ratio of 8.99, a price-to-earnings-growth ratio of 8.65 and a beta of 1.17. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.16. Canadian Imperial Bank of Commerce has a 52-week low of $72.96 and a 52-week high of $96.98. The company’s 50-day simple moving average is $77.43 and its two-hundred day simple moving average is $79.86.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, August 22nd. The bank reported $3.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.29 by $0.81. The company had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.50 billion. Canadian Imperial Bank of Commerce had a return on equity of 15.92% and a net margin of 18.39%. During the same period last year, the firm posted $3.08 EPS. As a group, sell-side analysts forecast that Canadian Imperial Bank of Commerce will post 9.1 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be issued a dividend of $1.091 per share. This represents a $4.36 dividend on an annualized basis and a dividend yield of 5.20%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. The ex-dividend date is Thursday, September 26th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 44.33%.

Canadian Imperial Bank of Commerce 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.

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

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