Canadian Imperial Bank of Commerce (NYSE:CM) Shares Sold by XTX Topco Ltd

XTX Topco Ltd reduced its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 35.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,208 shares of the bank’s stock after selling 4,975 shares during the period. XTX Topco Ltd’s holdings in Canadian Imperial Bank of Commerce were worth $438,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CM. Principal Financial Group Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 47.0% in the fourth quarter. Principal Financial Group Inc. now owns 68,300 shares of the bank’s stock valued at $3,305,000 after buying an additional 21,833 shares in the last quarter. UBS Group AG lifted its holdings in shares of Canadian Imperial Bank of Commerce by 18.9% during the fourth quarter. UBS Group AG now owns 356,914 shares of the bank’s stock valued at $17,182,000 after purchasing an additional 56,777 shares during the last quarter. Trexquant Investment LP acquired a new position in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at $539,000. Assetmark Inc. increased its stake in Canadian Imperial Bank of Commerce by 16.3% in the 4th quarter. Assetmark Inc. now owns 15,846 shares of the bank’s stock worth $763,000 after purchasing an additional 2,216 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Canadian Imperial Bank of Commerce by 574.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,066 shares of the bank’s stock worth $51,000 after buying an additional 908 shares during the period. 49.88% of the stock is currently owned by institutional investors.

Canadian Imperial Bank of Commerce Price Performance

NYSE CM opened at $61.66 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.15. The company has a fifty day simple moving average of $54.84 and a 200 day simple moving average of $50.90. The company has a market cap of $58.14 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.85 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 1 year low of $34.35 and a 1 year high of $62.01.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last posted its quarterly earnings data on Thursday, August 29th. The bank reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.19. The business had revenue of $6.60 billion during the quarter, compared to the consensus estimate of $6.28 billion. Canadian Imperial Bank of Commerce had a net margin of 10.66% and a return on equity of 13.63%. Canadian Imperial Bank of Commerce’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.14 EPS. On average, sell-side analysts predict that Canadian Imperial Bank of Commerce will post 5.36 EPS for the current year.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be paid a $0.652 dividend. This represents a $2.61 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Friday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 54.73%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CM. UBS Group began coverage on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, July 2nd. They set a “neutral” rating on the stock. Keefe, Bruyette & Woods raised Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a research note on Monday, June 3rd. Bank of America raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to a “buy” rating in a research report on Friday, August 30th. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Friday, August 30th. Finally, BMO Capital Markets upped their price objective on shares of Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $81.00.

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