Dynamic Technology Lab Private Ltd Makes New Investment in Canadian Imperial Bank of Commerce (NYSE:CM)

Dynamic Technology Lab Private Ltd acquired a new stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 49,768 shares of the bank's stock, valued at approximately $3,053,000.

Several other large investors have also bought and sold shares of the stock. Toronto Dominion Bank increased its stake in shares of Canadian Imperial Bank of Commerce by 17.9% in the second quarter. Toronto Dominion Bank now owns 25,941,777 shares of the bank's stock valued at $1,233,272,000 after buying an additional 3,942,894 shares during the period. Cetera Advisors LLC acquired a new stake in Canadian Imperial Bank of Commerce in the 1st quarter valued at $1,278,000. Legal & General Group Plc lifted its holdings in Canadian Imperial Bank of Commerce by 3.3% during the second quarter. Legal & General Group Plc now owns 7,213,860 shares of the bank's stock worth $342,946,000 after acquiring an additional 228,130 shares during the period. Ritholtz Wealth Management raised its stake in Canadian Imperial Bank of Commerce by 140.6% in the 3rd quarter. Ritholtz Wealth Management now owns 14,308 shares of the bank's stock valued at $878,000 after acquiring an additional 8,362 shares during the period. Finally, CIBC Asset Management Inc increased its stake in shares of Canadian Imperial Bank of Commerce by 3.4% in the third quarter. CIBC Asset Management Inc now owns 11,352,605 shares of the bank's stock worth $696,659,000 after purchasing an additional 375,837 shares in the last quarter. 49.88% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on CM. Desjardins raised shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 2nd. Bank of America raised Canadian Imperial Bank of Commerce from a "neutral" rating to a "buy" rating in a research note on Friday, August 30th. StockNews.com cut shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "sell" rating in a report on Saturday, October 19th. Cormark upgraded shares of Canadian Imperial Bank of Commerce from a "hold" rating to a "moderate buy" rating in a report on Friday, August 30th. Finally, BMO Capital Markets increased their price target on shares of Canadian Imperial Bank of Commerce from $77.00 to $81.00 and gave the company an "outperform" rating in a report on Friday, August 30th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, Canadian Imperial Bank of Commerce has a consensus rating of "Hold" and an average price target of $81.00.

Canadian Imperial Bank of Commerce Price Performance

NYSE:CM traded down $0.04 during trading hours on Monday, reaching $65.38. The stock had a trading volume of 236,741 shares, compared to its average volume of 1,373,476. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $61.76 billion, a PE ratio of 12.85, a PEG ratio of 1.71 and a beta of 1.06. Canadian Imperial Bank of Commerce has a 52 week low of $37.97 and a 52 week high of $65.89. The company has a 50 day moving average price of $62.44 and a two-hundred day moving average price of $55.05.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last issued its quarterly earnings data on Thursday, August 29th. The bank reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.19. Canadian Imperial Bank of Commerce had a return on equity of 13.50% and a net margin of 10.66%. The company had revenue of $6.60 billion for the quarter, compared to analysts' expectations of $6.28 billion. During the same period in the previous year, the firm posted $1.14 earnings per share. The firm's revenue for the quarter was up 12.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Canadian Imperial Bank of Commerce will post 5.27 earnings per share for the current fiscal year.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 28th. Investors of record on Friday, September 27th were issued a dividend of $0.652 per share. This represents a $2.61 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend was Friday, September 27th. Canadian Imperial Bank of Commerce's dividend payout ratio (DPR) is 52.46%.

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.