Short Interest in Canadian Imperial Bank of Commerce (NYSE:CM) Decreases By 9.4%

Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 9,900,000 shares, a decrease of 9.4% from the August 15th total of 10,930,000 shares. Based on an average daily trading volume, of 850,500 shares, the short-interest ratio is currently 11.6 days. Approximately 1.1% of the company’s stock are short sold.

Institutional Trading of Canadian Imperial Bank of Commerce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CENTRAL TRUST Co acquired a new position in shares of Canadian Imperial Bank of Commerce in the 1st quarter valued at approximately $55,000. Pacifica Partners Inc. grew its position in shares of Canadian Imperial Bank of Commerce by 100.0% in the 2nd quarter. Pacifica Partners Inc. now owns 510 shares of the bank’s stock valued at $25,000 after purchasing an additional 255 shares during the period. Steward Partners Investment Advisory LLC grew its position in shares of Canadian Imperial Bank of Commerce by 162.9% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 510 shares of the bank’s stock valued at $25,000 after purchasing an additional 316 shares during the period. Fieldpoint Private Securities LLC grew its position in shares of 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 valued at $63,000 after purchasing an additional 306 shares during the period. Finally, CWM LLC lifted its stake in Canadian Imperial Bank of Commerce by 44.4% in the 1st quarter. CWM LLC now owns 572 shares of the bank’s stock valued at $70,000 after acquiring an additional 176 shares in the last quarter. 44.32% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce Stock Performance

Canadian Imperial Bank of Commerce stock opened at $47.72 on Monday. The stock has a 50-day simple moving average of $49.40 and a 200 day simple moving average of $54.10. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a 12-month low of $45.09 and a 12-month high of $66.24. The stock has a market capitalization of $43.17 billion, a price-to-earnings ratio of 8.71, a P/E/G ratio of 2.58 and a beta of 1.01.

Canadian Imperial Bank of Commerce Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Wednesday, September 28th will be given a $0.649 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 5.44%. 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 is Tuesday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 47.81%.

Analyst Ratings Changes

A number of analysts have recently weighed in on CM shares. TD Securities reduced their price objective on shares of Canadian Imperial Bank of Commerce from C$82.00 to C$78.00 and set a “buy” rating for the company in a research note on Friday, May 27th. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Thursday, September 1st. National Bankshares raised their price objective on shares of Canadian Imperial Bank of Commerce from C$83.50 to C$84.00 in a research note on Friday, May 27th. CIBC raised their price objective on shares of Canadian Imperial Bank of Commerce from C$77.00 to C$79.00 and gave the stock an “outperform” rating in a research note on Friday, August 26th. Finally, Desjardins lowered their price objective 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 research note on Monday, August 29th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $82.58.

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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