Short Interest in Canadian Imperial Bank of Commerce (NYSE:CM) Decreases By 46.7%

Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) was the recipient of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totalling 3,640,000 shares, a decrease of 46.7% from the April 15th total of 6,830,000 shares. Based on an average trading volume of 527,500 shares, the short-interest ratio is presently 6.9 days. Approximately 0.8% of the company’s shares are sold short.

Shares of CM stock opened at $103.69 on Friday. The stock has a market cap of $46.79 billion, a P/E ratio of 9.02, a PEG ratio of 1.88 and a beta of 1.02. Canadian Imperial Bank of Commerce has a 52 week low of $102.28 and a 52 week high of $132.48. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.13. The company’s fifty day simple moving average is $118.30 and its two-hundred day simple moving average is $120.13.

Canadian Imperial Bank of Commerce shares are scheduled to split on Monday, May 16th. The 2-1 split was announced on Friday, February 25th. The newly issued shares will be payable to shareholders after the closing bell on Friday, May 13th.

Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) last announced its quarterly earnings results on Friday, February 25th. The bank reported $3.22 EPS for the quarter, topping the consensus estimate of $2.85 by $0.37. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $5.25 billion. Canadian Imperial Bank of Commerce had a net margin of 28.15% and a return on equity of 16.72%. During the same quarter in the previous year, the company earned $2.78 EPS. On average, analysts anticipate that Canadian Imperial Bank of Commerce will post 11.95 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 28th. Stockholders of record on Monday, March 28th were given a dividend of $1.267 per share. This represents a $5.07 annualized dividend and a dividend yield of 4.89%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.26. The ex-dividend date of this dividend was Friday, March 25th. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 44.17%.

CM has been the subject of several recent research reports. Stifel Europe lifted their target price on shares of Canadian Imperial Bank of Commerce from C$172.00 to C$174.00 and gave the company a “hold” rating in a report on Tuesday, March 1st. Zacks Investment Research lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Tuesday, March 8th. CIBC lifted their target price on shares of Canadian Imperial Bank of Commerce from C$173.00 to C$178.00 in a report on Monday, February 28th. Scotiabank boosted their price objective on shares of Canadian Imperial Bank of Commerce from C$166.00 to C$182.00 in a report on Friday, February 18th. Finally, Stifel Nicolaus decreased their price objective on shares of Canadian Imperial Bank of Commerce from C$174.00 to C$172.00 and set a “hold” rating for the company in a report on Friday, April 8th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $164.83.

Hedge funds and other institutional investors have recently made changes to their positions in the company. NEXT Financial Group Inc raised its position in Canadian Imperial Bank of Commerce by 68.5% in the 4th quarter. NEXT Financial Group Inc now owns 246 shares of the bank’s stock worth $29,000 after purchasing an additional 100 shares during the period. Massmutual Trust Co. FSB ADV raised its position in Canadian Imperial Bank of Commerce by 732.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 358 shares of the bank’s stock worth $40,000 after purchasing an additional 315 shares during the period. CWM LLC purchased a new stake in Canadian Imperial Bank of Commerce in the 4th quarter worth about $46,000. CENTRAL TRUST Co purchased a new stake in Canadian Imperial Bank of Commerce in the 1st quarter worth about $55,000. Finally, Fieldpoint Private Securities LLC raised its position in Canadian Imperial Bank of Commerce by 143.7% in the 1st quarter. Fieldpoint Private Securities LLC now owns 519 shares of the bank’s stock worth $63,000 after purchasing an additional 306 shares during the period. Hedge funds and other institutional investors own 43.66% of the company’s stock.

About Canadian Imperial Bank of Commerce (Get Rating)

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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