Investors Buy Large Volume of Canadian Imperial Bank of Commerce Put Options (NYSE:CM)

Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) was the recipient of some unusual options trading activity on Monday. Investors purchased 2,435 put options on the stock. This represents an increase of 241% compared to the typical daily volume of 715 put options.

Canadian Imperial Bank of Commerce Stock Down 1.5 %

NYSE:CM opened at $47.54 on Wednesday. The firm has a market capitalization of $43.03 billion, a P/E ratio of 8.68, a PEG ratio of 2.65 and a beta of 0.97. Canadian Imperial Bank of Commerce has a 1-year low of $39.72 and a 1-year high of $66.24. The company’s fifty day moving average price is $45.32 and its 200-day moving average price is $49.42. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.03 and a quick ratio of 1.03.

Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) last released its quarterly earnings results on Thursday, August 25th. The bank reported $1.45 EPS for the quarter, beating the consensus estimate of $1.40 by $0.05. The company had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.27 billion. Canadian Imperial Bank of Commerce had a net margin of 24.18% and a return on equity of 15.82%. As a group, equities research analysts anticipate that Canadian Imperial Bank of Commerce will post 5.61 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Wednesday, September 28th were given a $0.649 dividend. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Tuesday, September 27th. This represents a $2.60 annualized dividend and a dividend yield of 5.46%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 46.17%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. StockNews.com assumed coverage on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, October 12th. They set a “hold” rating on the stock. CIBC upped their price target on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$79.00 and gave the company an “outperform” rating in a report on Friday, August 26th. Desjardins cut their price target on shares of Canadian Imperial Bank of Commerce from C$74.00 to C$73.00 and set a “hold” rating on the stock in a report on Monday, August 29th. National Bank Financial cut their price target on shares of Canadian Imperial Bank of Commerce from C$84.00 to C$83.00 in a report on Tuesday, August 16th. Finally, TD Securities downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating and dropped their target price for the stock from C$74.00 to C$65.00 in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $81.58.

Institutional Trading of Canadian Imperial Bank of Commerce

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Canadian Imperial Bank of Commerce by 3.6% in the third quarter. Vanguard Group Inc. now owns 31,644,399 shares of the bank’s stock worth $1,384,759,000 after buying an additional 1,107,934 shares in the last quarter. Toronto Dominion Bank raised its stake in Canadian Imperial Bank of Commerce by 20.8% during the third quarter. Toronto Dominion Bank now owns 27,083,647 shares of the bank’s stock worth $1,188,476,000 after purchasing an additional 4,670,453 shares during the period. Bank of Nova Scotia raised its stake in Canadian Imperial Bank of Commerce by 105.7% during the second quarter. Bank of Nova Scotia now owns 25,278,658 shares of the bank’s stock worth $1,227,608,000 after purchasing an additional 12,991,149 shares during the period. TD Asset Management Inc. raised its stake in Canadian Imperial Bank of Commerce by 98.4% during the second quarter. TD Asset Management Inc. now owns 21,920,894 shares of the bank’s stock worth $1,062,270,000 after purchasing an additional 10,869,452 shares during the period. Finally, Cibc World Market Inc. raised its stake in Canadian Imperial Bank of Commerce by 106.1% during the second quarter. Cibc World Market Inc. now owns 12,595,030 shares of the bank’s stock worth $611,650,000 after purchasing an additional 6,484,743 shares during the period. Institutional investors and hedge funds own 44.32% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile

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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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