XTX Topco Ltd Sells 4,975 Shares of Canadian Imperial Bank of Commerce (NYSE:CM)

XTX Topco Ltd trimmed its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 35.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 9,208 shares of the bank’s stock after selling 4,975 shares during the period. XTX Topco Ltd’s holdings in Canadian Imperial Bank of Commerce were worth $438,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CM. Principal Financial Group Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 47.0% during the 4th quarter. Principal Financial Group Inc. now owns 68,300 shares of the bank’s stock worth $3,305,000 after acquiring an additional 21,833 shares during the period. UBS Group AG lifted its holdings in shares of Canadian Imperial Bank of Commerce by 18.9% during the 4th quarter. UBS Group AG now owns 356,914 shares of the bank’s stock worth $17,182,000 after acquiring an additional 56,777 shares during the period. Trexquant Investment LP bought a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $539,000. Assetmark Inc. lifted its holdings in shares of Canadian Imperial Bank of Commerce by 16.3% during the 4th quarter. Assetmark Inc. now owns 15,846 shares of the bank’s stock worth $763,000 after acquiring an additional 2,216 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Canadian Imperial Bank of Commerce by 574.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,066 shares of the bank’s stock worth $51,000 after acquiring an additional 908 shares during the period. 49.88% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets increased their target price on shares of Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Keefe, Bruyette & Woods upgraded shares of Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a research report on Monday, June 3rd. StockNews.com upgraded shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Friday, August 30th. Cormark upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “moderate buy” rating in a research report on Friday, August 30th. Finally, UBS Group started coverage on Canadian Imperial Bank of Commerce in a research note on Tuesday, July 2nd. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Canadian Imperial Bank of Commerce presently has an average rating of “Moderate Buy” and an average price target of $81.00.

Canadian Imperial Bank of Commerce Stock Performance

Shares of Canadian Imperial Bank of Commerce stock opened at $61.66 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a 50 day simple moving average of $54.84 and a 200 day simple moving average of $50.90. Canadian Imperial Bank of Commerce has a fifty-two week low of $34.35 and a fifty-two week high of $62.01. The firm has a market cap of $58.14 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.85 and a beta of 1.06.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Thursday, August 29th. The bank reported $1.93 EPS for the quarter, beating the consensus estimate of $1.74 by $0.19. The company had revenue of $6.60 billion during the quarter, compared to analysts’ expectations of $6.28 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.63% and a net margin of 10.66%. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the firm earned $1.14 EPS. Sell-side analysts predict that Canadian Imperial Bank of Commerce will post 5.36 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be given a dividend of $0.652 per share. The ex-dividend date is Friday, September 27th. This represents a $2.61 dividend on an annualized basis and a dividend yield of 4.23%. Canadian Imperial Bank of Commerce’s payout ratio is currently 54.73%.

Canadian Imperial Bank of Commerce Company Profile

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 Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.