HAP Trading LLC Acquires Shares of 45,389 Canadian Imperial Bank of Commerce $CM

HAP Trading LLC bought a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 45,389 shares of the bank’s stock, valued at approximately $3,215,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. American Century Companies Inc. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 10.8% during the second quarter. American Century Companies Inc. now owns 348,986 shares of the bank’s stock worth $24,772,000 after acquiring an additional 33,908 shares during the period. Legal & General Group Plc lifted its holdings in Canadian Imperial Bank of Commerce by 4.4% during the 2nd quarter. Legal & General Group Plc now owns 6,183,439 shares of the bank’s stock worth $438,056,000 after purchasing an additional 262,675 shares during the last quarter. Westerkirk Capital Inc. bought a new stake in Canadian Imperial Bank of Commerce in the 2nd quarter valued at $3,379,000. AGF Management Ltd. grew its holdings in Canadian Imperial Bank of Commerce by 15.2% in the 2nd quarter. AGF Management Ltd. now owns 881,521 shares of the bank’s stock valued at $62,908,000 after buying an additional 116,190 shares in the last quarter. Finally, Cumberland Partners Ltd grew its holdings in Canadian Imperial Bank of Commerce by 50.0% in the 2nd quarter. Cumberland Partners Ltd now owns 14,407 shares of the bank’s stock valued at $1,021,000 after buying an additional 4,800 shares in the last quarter. Institutional investors own 49.88% of the company’s stock.

Analyst Ratings Changes

CM has been the subject of a number of recent research reports. Barclays raised shares of Canadian Imperial Bank of Commerce from an “underweight” rating to an “overweight” rating in a research report on Thursday, February 19th. Raymond James Financial began coverage on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, November 25th. They set a “market perform” rating on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, January 21st. Finally, Zacks Research lowered shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, February 3rd. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $107.50.

Canadian Imperial Bank of Commerce Stock Up 0.7%

CM stock opened at $101.13 on Thursday. Canadian Imperial Bank of Commerce has a 52 week low of $53.62 and a 52 week high of $105.00. The business has a 50-day simple moving average of $94.72 and a 200 day simple moving average of $86.99. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.12. The company has a market cap of $93.49 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 1.04 and a beta of 1.00.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings data on Thursday, February 26th. The bank reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.25. The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $5.53 billion. Canadian Imperial Bank of Commerce had a net margin of 15.15% and a return on equity of 15.20%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.20 earnings per share. Sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 28th. Investors of record on Friday, March 27th will be paid a $1.07 dividend. This represents a $4.28 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, March 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 44.61%.

Canadian Imperial Bank of Commerce Company 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.