Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) saw a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 3,640,000 shares, a decline of 16.7% from the March 31st total of 4,370,000 shares. Currently, 0.8% of the shares of the company are sold short. Based on an average daily volume of 571,200 shares, the days-to-cover ratio is presently 6.4 days.

Shares of CM stock traded up $0.03 during trading hours on Tuesday, hitting $104.48. 441,168 shares of the company’s stock traded hands, compared to its average volume of 522,188. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a market cap of $46.82 billion, a price-to-earnings ratio of 17.15, a PEG ratio of 1.97 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 12-month low of $54.94 and a 12-month high of $104.91. The stock’s fifty day simple moving average is $100.12 and its two-hundred day simple moving average is $89.71.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its earnings results on Wednesday, February 24th. The bank reported $3.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $1.40. Canadian Imperial Bank of Commerce had a net margin of 15.06% and a return on equity of 12.03%. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.77 billion. On average, equities analysts forecast that Canadian Imperial Bank of Commerce will post 8.11 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 28th. Shareholders of record on Monday, March 29th were issued a $1.1669 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.10. This represents a $4.67 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend was Friday, March 26th. Canadian Imperial Bank of Commerce’s payout ratio is currently 62.27%.

Several institutional investors have recently bought and sold shares of CM. International Assets Investment Management LLC purchased a new position in Canadian Imperial Bank of Commerce during the 4th quarter valued at $38,000. Reby Advisors LLC acquired a new stake in Canadian Imperial Bank of Commerce during the 4th quarter valued at approximately $41,000. Childress Capital Advisors LLC purchased a new stake in Canadian Imperial Bank of Commerce in the 4th quarter worth $44,000. GPS Wealth Strategies Group LLC acquired a new position in shares of Canadian Imperial Bank of Commerce during the 1st quarter worth approximately $44,000. Finally, IFP Advisors Inc boosted its position in shares of Canadian Imperial Bank of Commerce by 70.4% during the 4th quarter. IFP Advisors Inc now owns 869 shares of the bank’s stock valued at $74,000 after acquiring an additional 359 shares during the last quarter. Hedge funds and other institutional investors own 42.62% of the company’s stock.

A number of research analysts have recently issued reports on the stock. Credit Suisse Group upgraded shares of Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $118.00 to $123.00 in a research note on Wednesday, March 3rd. Cormark reissued a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, March 9th. Canaccord Genuity restated a “buy” rating on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, April 21st. Scotiabank reiterated an “outperform” rating on shares of Canadian Imperial Bank of Commerce in a report on Monday, March 1st. Finally, BMO Capital Markets upgraded Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a research note on Friday, February 26th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $108.89.

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 four strategic business units: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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