Canadian Imperial Bank of Commerce (NYSE:CM) Sees Unusually-High Trading Volume

Shares of Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) saw unusually-strong trading volume on Thursday . Approximately 15,012 shares changed hands during mid-day trading, a decline of 97% from the previous session’s volume of 536,820 shares.The stock last traded at $119.39 and had previously closed at $117.99.

A number of equities analysts have recently commented on CM shares. CIBC lifted their price target on shares of Canadian Imperial Bank of Commerce from C$173.00 to C$178.00 in a research report on Monday, February 28th. Zacks Investment Research lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Tuesday, March 8th. StockNews.com initiated coverage on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Stifel Nicolaus dropped their target price on shares of Canadian Imperial Bank of Commerce from C$174.00 to C$172.00 and set a “hold” rating on the stock in a research report on Friday, April 8th. Finally, Stifel Europe boosted their target price on shares of Canadian Imperial Bank of Commerce from C$172.00 to C$174.00 and gave the stock a “hold” rating in a research report on Tuesday, March 1st. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $164.83.

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s 50 day simple moving average is $122.99 and its two-hundred day simple moving average is $121.01. The stock has a market cap of $51.13 billion, a price-to-earnings ratio of 9.86, a P/E/G ratio of 2.04 and a beta of 1.02.

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 created shares will be distributed to shareholders after the closing bell on Friday, May 13th.

Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) last posted its quarterly earnings results on Friday, February 25th. The bank reported $3.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.85 by $0.37. Canadian Imperial Bank of Commerce had a net margin of 28.15% and a return on equity of 16.72%. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $5.25 billion. During the same quarter in the previous year, the company earned $2.78 earnings per share. As a group, analysts predict that Canadian Imperial Bank of Commerce will post 11.96 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 28th. Stockholders of record on Monday, March 28th will be paid a $1.267 dividend. This represents a $5.07 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Friday, March 25th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.26. Canadian Imperial Bank of Commerce’s payout ratio is currently 44.17%.

Several large investors have recently modified their holdings of CM. NEXT Financial Group Inc boosted its stake in shares of 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 valued at $29,000 after purchasing an additional 100 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of 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 valued at $40,000 after purchasing an additional 315 shares in the last quarter. Tower View Investment Management & Research LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 3rd quarter valued at $45,000. CWM LLC acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at $46,000. Finally, Fieldpoint Private Securities LLC raised its holdings in shares of Canadian Imperial Bank of Commerce by 143.7% in the first quarter. Fieldpoint Private Securities LLC now owns 519 shares of the bank’s stock valued at $63,000 after buying an additional 306 shares during the last quarter. Institutional investors own 44.27% of the company’s stock.

About Canadian Imperial Bank of Commerce (NYSE:CM)

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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