Canadian Imperial Bank of Commerce (NYSE:CM) Short Interest Up 128.8% in May

Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) saw a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 8,330,000 shares, an increase of 128.8% from the April 30th total of 3,640,000 shares. Approximately 0.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,080,000 shares, the short-interest ratio is presently 7.7 days.

CM has been the topic of several research analyst reports. Stifel Nicolaus lowered their price objective on Canadian Imperial Bank of Commerce from C$87.00 to C$86.00 and set a “hold” rating on the stock in a report on Friday, April 8th. Credit Suisse Group started coverage on shares of Canadian Imperial Bank of Commerce in a research note on Friday, May 20th. They issued an “outperform” rating on the stock. Zacks Investment Research raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Thursday. Scotiabank raised their target price on shares of Canadian Imperial Bank of Commerce from C$83.00 to C$91.00 in a research note on Friday, February 18th. Finally, Bank of America lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 17th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $82.42.

Shares of CM opened at $53.74 on Friday. Canadian Imperial Bank of Commerce has a 1-year low of $51.14 and a 1-year high of $66.24. The stock has a market cap of $48.50 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 2.82 and a beta of 1.02. 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 firm has a fifty day moving average price of $58.50 and a 200 day moving average price of $59.98.

Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) last announced its earnings results on Friday, February 25th. The bank reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.19. Canadian Imperial Bank of Commerce had a net margin of 28.15% and a return on equity of 16.72%. The business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the prior year, the company earned $1.39 earnings per share. As a group, equities analysts expect that Canadian Imperial Bank of Commerce will post 5.37 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Avantax Advisory Services Inc. lifted its position in Canadian Imperial Bank of Commerce by 1.8% in the fourth quarter. Avantax Advisory Services Inc. now owns 4,502 shares of the bank’s stock valued at $525,000 after purchasing an additional 80 shares during the period. Captrust Financial Advisors lifted its position in Canadian Imperial Bank of Commerce by 3.8% in the third quarter. Captrust Financial Advisors now owns 2,521 shares of the bank’s stock valued at $284,000 after purchasing an additional 93 shares during the period. Wealth Alliance increased its holdings in Canadian Imperial Bank of Commerce by 2.1% in the first quarter. Wealth Alliance now owns 4,775 shares of the bank’s stock valued at $581,000 after buying an additional 97 shares in the last quarter. NEXT Financial Group Inc increased its holdings in Canadian Imperial Bank of Commerce by 68.5% in the fourth quarter. NEXT Financial Group Inc now owns 246 shares of the bank’s stock valued at $29,000 after buying an additional 100 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in Canadian Imperial Bank of Commerce by 4.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,423 shares of the bank’s stock valued at $282,000 after buying an additional 102 shares in the last quarter. Institutional investors and hedge funds own 43.66% of the company’s stock.

Canadian Imperial Bank of Commerce Company Profile (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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