Canadian Imperial Bank of Commerce (NYSE:CM) Short Interest Update


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Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) was the recipient of a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 3,640,000 shares, a decrease of 16.7% from the March 31st total of 4,370,000 shares. Approximately 0.8% of the company’s stock are sold short. Based on an average daily trading volume, of 571,200 shares, the days-to-cover ratio is presently 6.4 days.

Several hedge funds have recently added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. raised its stake in Canadian Imperial Bank of Commerce by 5.8% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 178,392 shares of the bank’s stock worth $14,104,000 after purchasing an additional 9,859 shares during the period. Advisor Partners LLC lifted its stake in Canadian Imperial Bank of Commerce by 5.3% during the third quarter. Advisor Partners LLC now owns 8,598 shares of the bank’s stock worth $642,000 after purchasing an additional 436 shares during the last quarter. Brinker Capital Investments LLC purchased a new position in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at $300,000. Fulton Bank N.A. increased its position in shares of Canadian Imperial Bank of Commerce by 0.4% during the fourth quarter. Fulton Bank N.A. now owns 32,857 shares of the bank’s stock worth $2,808,000 after purchasing an additional 139 shares in the last quarter. Finally, Galibier Capital Management Ltd. lifted its stake in Canadian Imperial Bank of Commerce by 16.8% in the fourth quarter. Galibier Capital Management Ltd. now owns 732,614 shares of the bank’s stock valued at $62,520,000 after buying an additional 105,361 shares during the last quarter. 42.62% of the stock is owned by institutional investors and hedge funds.

CM has been the topic of several analyst reports. Cormark reiterated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, March 9th. TD Securities reaffirmed a “buy” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday, February 26th. Scotiabank reissued an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a research note on Monday, March 1st. Canaccord Genuity reissued a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research note on Wednesday, April 21st. Finally, CIBC upped their price target on Canadian Imperial Bank of Commerce from $126.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday, February 26th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $108.89.

Shares of Canadian Imperial Bank of Commerce stock traded up $0.03 on Tuesday, hitting $104.48. 441,168 shares of the company traded hands, compared to its average volume of 522,188. Canadian Imperial Bank of Commerce has a 52 week low of $54.94 and a 52 week high of $104.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The business has a 50-day simple moving average of $100.12 and a 200 day simple moving average of $89.71. The stock has a market capitalization of $46.82 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 1.97 and a beta of 1.12.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Wednesday, February 24th. The bank reported $3.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $1.40. Canadian Imperial Bank of Commerce had a return on equity of 12.03% and a net margin of 15.06%. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.77 billion. Research analysts expect that Canadian Imperial Bank of Commerce will post 8.11 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 28th. Investors of record on Monday, March 29th were given a dividend of $1.1669 per share. This represents a $4.67 annualized dividend and a yield of 4.47%. The ex-dividend date was Friday, March 26th. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.10. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 62.27%.

About Canadian Imperial Bank of Commerce

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 Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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