Signition LP Invests $305,000 in Canadian Imperial Bank of Commerce (CM)

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Signition LP bought a new stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,256 shares of the bank’s stock, valued at approximately $305,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Morgan Stanley grew its position in Canadian Imperial Bank of Commerce by 16.4% in the second quarter. Morgan Stanley now owns 551,597 shares of the bank’s stock valued at $47,944,000 after acquiring an additional 77,880 shares during the period. AMP Capital Investors Ltd grew its position in Canadian Imperial Bank of Commerce by 7.8% in the second quarter. AMP Capital Investors Ltd now owns 155,792 shares of the bank’s stock valued at $13,544,000 after acquiring an additional 11,245 shares during the period. Barometer Capital Management Inc. bought a new stake in Canadian Imperial Bank of Commerce in the third quarter valued at $2,869,000. First Bank & Trust grew its position in Canadian Imperial Bank of Commerce by 12.0% in the second quarter. First Bank & Trust now owns 13,957 shares of the bank’s stock valued at $1,213,000 after acquiring an additional 1,494 shares during the period. Finally, Bank of Nova Scotia grew its position in Canadian Imperial Bank of Commerce by 3.1% in the second quarter. Bank of Nova Scotia now owns 5,172,697 shares of the bank’s stock valued at $449,513,000 after acquiring an additional 155,033 shares during the period. Institutional investors and hedge funds own 46.34% of the company’s stock.

Several brokerages have recently commented on CM. Zacks Investment Research cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. ValuEngine cut Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. Finally, TheStreet cut Canadian Imperial Bank of Commerce from a “b-” rating to a “c+” rating in a report on Wednesday, October 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $123.00.

Shares of CM stock opened at $86.88 on Monday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.12. The firm has a market cap of $38.44 billion, a PE ratio of 9.77, a price-to-earnings-growth ratio of 1.62 and a beta of 1.18. Canadian Imperial Bank of Commerce has a 52 week low of $84.88 and a 52 week high of $100.01.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Thursday, August 23rd. The bank reported $3.08 EPS for the quarter, topping the consensus estimate of $2.22 by $0.86. The company had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Canadian Imperial Bank of Commerce had a return on equity of 17.77% and a net margin of 21.27%. During the same quarter in the prior year, the business earned $2.77 earnings per share. As a group, equities analysts predict that Canadian Imperial Bank of Commerce will post 9.35 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 29th. Stockholders of record on Friday, September 28th were issued a dividend of $1.0412 per share. This represents a $4.16 annualized dividend and a dividend yield of 4.79%. The ex-dividend date was Thursday, September 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 46.91%.

About Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to individual, small business, commercial, corporate, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

Read More: Leveraged Buyout (LBO)

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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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