Canadian Imperial Bank of Commerce (NYSE:CM) Shares Purchased by Signition LP

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Signition LP boosted its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 17.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,956 shares of the bank’s stock after purchasing an additional 2,200 shares during the quarter. Signition LP’s holdings in Canadian Imperial Bank of Commerce were worth $1,175,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CM. Toronto Dominion Bank increased its stake in shares of Canadian Imperial Bank of Commerce by 15.6% in the 1st quarter. Toronto Dominion Bank now owns 13,910,392 shares of the bank’s stock worth $1,099,327,000 after acquiring an additional 1,881,024 shares during the last quarter. Beutel Goodman & Co Ltd. grew its holdings in shares of Canadian Imperial Bank of Commerce by 105.6% during the 1st quarter. Beutel Goodman & Co Ltd. now owns 1,565,565 shares of the bank’s stock worth $123,712,000 after purchasing an additional 804,140 shares during the period. Letko Brosseau & Associates Inc. grew its holdings in shares of Canadian Imperial Bank of Commerce by 43.2% during the 2nd quarter. Letko Brosseau & Associates Inc. now owns 2,655,937 shares of the bank’s stock worth $209,304,000 after purchasing an additional 801,058 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of Canadian Imperial Bank of Commerce during the 1st quarter worth $66,073,000. Finally, Investec Asset Management LTD grew its holdings in shares of Canadian Imperial Bank of Commerce by 478.2% during the 2nd quarter. Investec Asset Management LTD now owns 648,507 shares of the bank’s stock worth $8,803,000 after purchasing an additional 536,357 shares during the period. 45.12% of the stock is owned by hedge funds and other institutional investors.

CM has been the subject of a number of research analyst reports. TD Securities cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Scotiabank reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday. Desjardins cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. Zacks Investment Research cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Monday. Finally, BMO Capital Markets reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 23rd. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and a consensus target price of $120.00.

Shares of NYSE CM traded down $0.94 during mid-day trading on Friday, reaching $75.50. 18,581 shares of the company’s stock were exchanged, compared to its average volume of 320,082. The firm has a market capitalization of $32.99 billion, a price-to-earnings ratio of 8.09, a PEG ratio of 7.82 and a beta of 1.17. 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 has a 52-week low of $72.96 and a 52-week high of $96.98. The company’s 50-day moving average is $77.47 and its 200-day moving average is $80.73.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its quarterly earnings results on Thursday, August 22nd. The bank reported $3.10 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.81. 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 $3.54 billion during the quarter, compared to analysts’ expectations of $3.50 billion. During the same period in the prior year, the business posted $3.08 EPS. As a group, equities analysts predict that Canadian Imperial Bank of Commerce will post 9.03 earnings per share for the current fiscal year.

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

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