Y Intercept Hong Kong Ltd Has $2.43 Million Holdings in Canadian Imperial Bank of Commerce $CM

by · The Markets Daily

Y Intercept Hong Kong Ltd increased its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM – Free Report) (TSE:CM) by 439.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,646 shares of the bank’s stock after acquiring an additional 20,889 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Canadian Imperial Bank of Commerce were worth $2,430,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Canadian Imperial Bank of Commerce in the fourth quarter worth $958,383,000. Mackenzie Financial Corp raised its position in Canadian Imperial Bank of Commerce by 69.3% during the fourth quarter. Mackenzie Financial Corp now owns 10,800,606 shares of the bank’s stock valued at $986,173,000 after buying an additional 4,419,968 shares during the period. FIL Ltd lifted its stake in Canadian Imperial Bank of Commerce by 26.1% in the 4th quarter. FIL Ltd now owns 12,756,323 shares of the bank’s stock worth $1,156,438,000 after acquiring an additional 2,643,495 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Canadian Imperial Bank of Commerce by 24.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 8,897,236 shares of the bank’s stock worth $808,281,000 after acquiring an additional 1,720,220 shares during the period. Finally, Morgan Stanley boosted its position in Canadian Imperial Bank of Commerce by 39.5% during the 4th quarter. Morgan Stanley now owns 4,988,745 shares of the bank’s stock worth $452,030,000 after acquiring an additional 1,412,363 shares during the period. Institutional investors and hedge funds own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Stock Performance

Shares of CM opened at $115.96 on Wednesday. The firm has a market cap of $105.85 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 1.25 and a beta of 1.02. The company’s fifty day moving average is $112.13 and its 200-day moving average is $102.19. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.11. Canadian Imperial Bank of Commerce has a 12 month low of $71.00 and a 12 month high of $117.05.

Canadian Imperial Bank of Commerce (NYSE:CM – Get Free Report) (TSE:CM) last issued its quarterly earnings data on Thursday, May 28th. The bank reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.08. The firm had revenue of $5.89 billion during the quarter, compared to analysts’ expectations of $5.86 billion. Canadian Imperial Bank of Commerce had a net margin of 15.84% and a return on equity of 16.31%. Canadian Imperial Bank of Commerce’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.05 earnings per share. Equities analysts expect that Canadian Imperial Bank of Commerce will post 7.37 EPS for the current fiscal year.

Canadian Imperial Bank of Commerce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 28th. Stockholders of record on Monday, June 29th will be issued a dividend of $1.07 per share. The ex-dividend date of this dividend is Monday, June 29th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 3.7%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 42.58%.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barclays restated an “overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Monday, June 1st. Jefferies Financial Group reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 28th. Weiss Ratings lowered shares of Canadian Imperial Bank of Commerce from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, June 4th. Zacks Research downgraded shares of Canadian Imperial Bank of Commerce from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 28th. Finally, Scotiabank reiterated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, June 16th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $167.00.

Get Our Latest Stock Analysis on CM

Canadian Imperial Bank of Commerce Company Profile

(Free Report)

Canadian Imperial Bank of Commerce (NYSE: CM), commonly known as CIBC, is a major Canadian financial institution headquartered in Toronto. Formed in 1961 through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada, CIBC is one of Canada’s largest banks and provides a broad range of banking and financial services to retail, small business, commercial and institutional clients.

CIBC’s activities span personal and business banking, wealth management, capital markets and corporate banking.

Featured Articles

Want to see what other hedge funds are holding CM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Imperial Bank of Commerce (NYSE:CM – Free Report) (TSE:CM).