Stock Traders Purchase Large Volume of Canadian Imperial Bank of Commerce Put Options (NYSE:CM)

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) saw some unusual options trading on Tuesday. Traders bought 2,145 put options on the company. This represents an increase of approximately 713% compared to the average volume of 264 put options.

A number of equities research analysts have commented on the company. Barclays downgraded Canadian Imperial Bank of Commerce from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, June 11th. BMO Capital Markets restated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 23rd. TD Securities downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Desjardins cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Wednesday, May 22nd. Finally, Zacks Investment Research raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and an average price target of $120.00.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Heritage Wealth Advisors acquired a new position in Canadian Imperial Bank of Commerce during the 1st quarter worth $31,000. CWM LLC grew its stake in Canadian Imperial Bank of Commerce by 1,524.0% during the 1st quarter. CWM LLC now owns 406 shares of the bank’s stock worth $32,000 after purchasing an additional 381 shares in the last quarter. Meridian Wealth Management LLC acquired a new position in Canadian Imperial Bank of Commerce during the 1st quarter worth $32,000. Advisory Alpha LLC acquired a new position in Canadian Imperial Bank of Commerce during the 1st quarter worth $41,000. Finally, Truvestments Capital LLC acquired a new position in Canadian Imperial Bank of Commerce during the 1st quarter worth $45,000. 45.15% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE CM traded down $1.32 during trading on Wednesday, reaching $74.67. The stock had a trading volume of 5,766 shares, compared to its average volume of 392,243. Canadian Imperial Bank of Commerce has a fifty-two week low of $72.96 and a fifty-two week high of $96.98. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50-day moving average price of $78.22. The stock has a market capitalization of $33.81 billion, a P/E ratio of 8.00, a P/E/G ratio of 6.72 and a beta of 1.17.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Wednesday, May 22nd. The bank reported $2.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.22 by $0.75. Canadian Imperial Bank of Commerce had a return on equity of 16.30% and a net margin of 18.83%. The business had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3.36 billion. During the same period in the previous year, the firm posted $2.95 earnings per share. Research analysts expect that Canadian Imperial Bank of Commerce will post 9.02 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Stockholders of record on Friday, June 28th were paid a $1.04 dividend. The ex-dividend date was Thursday, June 27th. This represents a $4.16 dividend on an annualized basis and a dividend yield of 5.57%. Canadian Imperial Bank of Commerce’s payout ratio is presently 44.33%.

Canadian Imperial Bank of Commerce Company 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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