Canadian Imperial Bank of Commerce (CM) Shares Bought by Quadrant Capital Group LLC

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Quadrant Capital Group LLC increased its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 18.3% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 2,778 shares of the bank’s stock after buying an additional 429 shares during the quarter. Quadrant Capital Group LLC’s holdings in Canadian Imperial Bank of Commerce were worth $213,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CM. Norges Bank bought a new stake in Canadian Imperial Bank of Commerce in the 4th quarter worth about $309,767,000. Nordea Investment Management AB bought a new stake in Canadian Imperial Bank of Commerce in the 3rd quarter worth about $197,655,000. APG Asset Management N.V. increased its holdings in Canadian Imperial Bank of Commerce by 34.4% in the 4th quarter. APG Asset Management N.V. now owns 3,418,660 shares of the bank’s stock worth $222,641,000 after buying an additional 874,400 shares in the last quarter. Beutel Goodman & Co Ltd. increased its holdings in Canadian Imperial Bank of Commerce by 105.6% in the 1st quarter. Beutel Goodman & Co Ltd. now owns 1,565,565 shares of the bank’s stock worth $123,712,000 after buying an additional 804,140 shares in the last quarter. Finally, Bank of Nova Scotia boosted its position in Canadian Imperial Bank of Commerce by 11.0% in the fourth quarter. Bank of Nova Scotia now owns 6,116,847 shares of the bank’s stock worth $455,949,000 after purchasing an additional 606,814 shares during the last quarter. Institutional investors own 46.68% of the company’s stock.

CM stock opened at $83.70 on Friday. Canadian Imperial Bank of Commerce has a twelve month low of $72.96 and a twelve month high of $96.98. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.06 and a current ratio of 1.06. The stock has a market cap of $37.28 billion, a PE ratio of 8.96, a P/E/G ratio of 5.00 and a beta of 1.16.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, February 28th. The bank reported $2.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.37 by ($0.11). Canadian Imperial Bank of Commerce had a net margin of 19.44% and a return on equity of 16.70%. The company had revenue of $3.43 billion for the quarter, compared to analysts’ expectations of $3.51 billion. As a group, equities analysts forecast that Canadian Imperial Bank of Commerce will post 9.42 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 29th. Stockholders of record on Thursday, March 28th were given a dividend of $1.0616 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.03. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date was Wednesday, March 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 45.50%.

Several research analysts have issued reports on CM shares. Barclays reissued an “average” rating and issued a $123.00 target price on shares of Canadian Imperial Bank of Commerce in a research report on Friday, March 1st. Zacks Investment Research cut Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 4th. Scotiabank reissued an “average” rating and issued a $126.00 target price on shares of Canadian Imperial Bank of Commerce in a research report on Friday, February 22nd. Canaccord Genuity reaffirmed an “average” rating and set a $125.00 price objective on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, February 20th. Finally, ValuEngine cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $125.43.

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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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