Canadian Imperial Bank of Commerce (CM) Sees Large Volume Increase

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) saw unusually-strong trading volume on Monday . Approximately 1,047,535 shares traded hands during mid-day trading, an increase of 179% from the previous session’s volume of 375,407 shares.The stock last traded at $87.24 and had previously closed at $86.88.

Several equities analysts have recently weighed in on CM shares. TheStreet raised shares of Canadian Imperial Bank of Commerce from a “c” rating to a “b-” rating in a research report on Thursday, August 23rd. Zacks Investment Research raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $99.00 price objective on the stock in a research report on Tuesday, October 16th. Finally, ValuEngine raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. Canadian Imperial Bank of Commerce has an average rating of “Hold” and a consensus target price of $123.00.

The stock has a market capitalization of $38.44 billion, a P/E ratio of 9.85, a PEG ratio of 1.62 and a beta of 1.18. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.05 and a current ratio of 1.05.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, August 23rd. The bank reported $3.08 EPS for the quarter, topping analysts’ consensus estimates of $2.22 by $0.86. Canadian Imperial Bank of Commerce had a net margin of 21.27% and a return on equity of 17.77%. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period last year, the firm earned $2.77 earnings per share. Equities analysts predict that Canadian Imperial Bank of Commerce will post 9.35 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 29th. Investors of record on Friday, September 28th were given a dividend of $1.0412 per share. This represents a $4.16 dividend on an annualized basis and a yield of 4.76%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. The ex-dividend date was Thursday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 46.91%.

Large investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank grew its stake in Canadian Imperial Bank of Commerce by 34.7% during the second quarter. Toronto Dominion Bank now owns 11,741,312 shares of the bank’s stock worth $1,024,111,000 after buying an additional 3,025,599 shares in the last quarter. CIBC Asset Management Inc grew its stake in Canadian Imperial Bank of Commerce by 0.9% during the third quarter. CIBC Asset Management Inc now owns 8,155,008 shares of the bank’s stock worth $763,544,000 after buying an additional 74,041 shares in the last quarter. Acadian Asset Management LLC grew its stake in Canadian Imperial Bank of Commerce by 0.9% during the third quarter. Acadian Asset Management LLC now owns 5,910,430 shares of the bank’s stock worth $553,410,000 after buying an additional 55,247 shares in the last quarter. Bank of Nova Scotia grew its stake in Canadian Imperial Bank of Commerce by 3.1% during the second quarter. Bank of Nova Scotia now owns 5,172,697 shares of the bank’s stock worth $449,513,000 after buying an additional 155,033 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp grew its stake in Canadian Imperial Bank of Commerce by 33.9% during the second quarter. OMERS ADMINISTRATION Corp now owns 5,120,519 shares of the bank’s stock worth $445,158,000 after buying an additional 1,296,629 shares in the last quarter. 46.34% of the stock is currently owned by institutional investors and hedge funds.

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Canadian Imperial Bank of Commerce Company Profile (NYSE:CM)

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, 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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