Entropy Technologies LP Invests $1.12 Million in Canadian Imperial Bank of Commerce (NYSE:CM)

Entropy Technologies LP acquired a new stake in Canadian Imperial Bank of Commerce (NYSE:CM - Free Report) TSE: CM in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 18,287 shares of the bank's stock, valued at approximately $1,122,000.

A number of other large investors have also added to or reduced their stakes in CM. Ridgewood Investments LLC bought a new stake in shares of Canadian Imperial Bank of Commerce in the 2nd quarter valued at $29,000. Blue Trust Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 571.6% during the 3rd quarter. Blue Trust Inc. now owns 732 shares of the bank's stock worth $45,000 after purchasing an additional 623 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Canadian Imperial Bank of Commerce in the 2nd quarter valued at about $51,000. Massmutual Trust Co. FSB ADV increased its position in Canadian Imperial Bank of Commerce by 23.1% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 911 shares of the bank's stock valued at $56,000 after buying an additional 171 shares in the last quarter. Finally, City State Bank acquired a new position in Canadian Imperial Bank of Commerce during the 3rd quarter worth approximately $61,000. Institutional investors own 49.88% of the company's stock.

Canadian Imperial Bank of Commerce Price Performance

Shares of CM traded down $0.11 during mid-day trading on Thursday, reaching $63.91. 511,992 shares of the stock traded hands, compared to its average volume of 1,396,879. The firm has a fifty day moving average price of $61.88 and a 200 day moving average price of $54.17. Canadian Imperial Bank of Commerce has a 1 year low of $37.97 and a 1 year high of $65.09. The company has a market cap of $60.36 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 1.86 and a beta of 1.06. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.14.

Canadian Imperial Bank of Commerce (NYSE:CM - Get Free Report) TSE: CM last posted its quarterly earnings data on Thursday, August 29th. The bank reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.19. Canadian Imperial Bank of Commerce had a net margin of 10.66% and a return on equity of 13.50%. The firm had revenue of $6.60 billion for the quarter, compared to analysts' expectations of $6.28 billion. During the same quarter last year, the company posted $1.14 EPS. The business's quarterly revenue was up 12.9% on a year-over-year basis. As a group, equities research analysts predict that Canadian Imperial Bank of Commerce will post 5.34 earnings per share for the current year.

Canadian Imperial Bank of Commerce Cuts Dividend

The business 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 annualized dividend and a yield of 4.08%. The ex-dividend date was Friday, September 27th. Canadian Imperial Bank of Commerce's dividend payout ratio is presently 52.46%.

Analyst Ratings Changes

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

Canadian Imperial Bank of Commerce 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.