Canadian Imperial Bank of Commerce (NYSE:CM) Short Interest Up 109.8% in March

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM saw a large growth in short interest in March. As of March 15th, there was short interest totalling 35,370,000 shares, a growth of 109.8% from the February 28th total of 16,860,000 shares. Based on an average daily volume of 982,900 shares, the short-interest ratio is presently 36.0 days. Currently, 4.0% 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 made changes to their positions in CM. PDS Planning Inc boosted its position in shares of Canadian Imperial Bank of Commerce by 3.8% in the 4th quarter. PDS Planning Inc now owns 5,167 shares of the bank's stock valued at $327,000 after purchasing an additional 189 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce by 4.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,161 shares of the bank's stock valued at $255,000 after acquiring an additional 194 shares during the period. Mesirow Financial Investment Management Inc. grew its position in shares of Canadian Imperial Bank of Commerce by 0.7% during the fourth quarter. Mesirow Financial Investment Management Inc. now owns 33,094 shares of the bank's stock worth $2,092,000 after acquiring an additional 222 shares during the last quarter. MML Investors Services LLC increased its holdings in shares of Canadian Imperial Bank of Commerce by 0.5% in the 3rd quarter. MML Investors Services LLC now owns 44,008 shares of the bank's stock valued at $2,699,000 after acquiring an additional 237 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its position in Canadian Imperial Bank of Commerce by 27.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,161 shares of the bank's stock valued at $73,000 after purchasing an additional 250 shares during the last quarter. Institutional investors and hedge funds own 49.88% of the company's stock.

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Canadian Imperial Bank of Commerce Stock Up 1.2 %

CM stock traded up $0.69 during trading on Tuesday, hitting $56.99. 465,619 shares of the company's stock were exchanged, compared to its average volume of 1,086,640. The business has a 50-day moving average price of $59.90 and a two-hundred day moving average price of $62.03. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $53.57 billion, a price-to-earnings ratio of 10.65, a PEG ratio of 1.62 and a beta of 1.07. Canadian Imperial Bank of Commerce has a 52-week low of $46.50 and a 52-week high of $67.45.

Canadian Imperial Bank of Commerce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 28th. Shareholders of record on Friday, March 28th will be paid a $0.6723 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $2.69 annualized dividend and a yield of 4.72%. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 48.03%.

Wall Street Analysts Forecast Growth

CM has been the subject of a number of analyst reports. StockNews.com raised Canadian Imperial Bank of Commerce from a "sell" rating to a "hold" rating in a research report on Friday, February 14th. Royal Bank of Canada upgraded shares of Canadian Imperial Bank of Commerce from a "sector perform" rating to an "outperform" rating and boosted their price target for the stock from $97.00 to $103.00 in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $92.00.

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.