Two Sigma Securities LLC Invests $238,000 in Canadian Imperial Bank of Commerce (CM)

Two Sigma Securities LLC purchased a new position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,755 shares of the bank’s stock, valued at approximately $238,000.

Other hedge funds also recently made changes to their positions in the company. Quadrature Capital Ltd boosted its stake in shares of Canadian Imperial Bank of Commerce by 94.3% in the fourth quarter. Quadrature Capital Ltd now owns 445,256 shares of the bank’s stock worth $36,206,000 after buying an additional 216,056 shares in the last quarter. Lincluden Management Ltd. boosted its stake in shares of Canadian Imperial Bank of Commerce by 46.2% in the fourth quarter. Lincluden Management Ltd. now owns 322,748 shares of the bank’s stock worth $26,308,000 after buying an additional 101,991 shares in the last quarter. Norges Bank bought a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth $308,826,000. Ancora Advisors LLC bought a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter worth $298,000. Finally, A.R.T. Advisors LLC boosted its stake in shares of Canadian Imperial Bank of Commerce by 10.0% in the fourth quarter. A.R.T. Advisors LLC now owns 5,500 shares of the bank’s stock worth $448,000 after buying an additional 500 shares in the last quarter. 51.88% of the stock is owned by institutional investors.

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

Canadian Imperial Bank of Commerce (NYSE CM) traded up 0.42% during midday trading on Friday, hitting $81.29. The stock had a trading volume of 1,509,861 shares. Canadian Imperial Bank of Commerce has a 1-year low of $72.62 and a 1-year high of $92.22. The company has a market cap of $32.65 billion, a price-to-earnings ratio of 9.02 and a beta of 1.08. The company’s 50 day moving average is $78.96 and its 200 day moving average is $83.94.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Wednesday, June 28th will be given a $0.9406 dividend. The ex-dividend date of this dividend is Monday, June 26th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.65%. Canadian Imperial Bank of Commerce’s payout ratio is 41.84%.

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A number of analysts have weighed in on the company. Zacks Investment Research raised Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating and set a $103.00 price target for the company in a research report on Thursday, February 23rd. Keefe, Bruyette & Woods raised Canadian Imperial Bank of Commerce from an “underperform” rating to a “mkt perform” rating in a research report on Friday, February 24th. Credit Suisse Group raised Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a research report on Friday, March 31st. BidaskClub raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, National Bank Financial reaffirmed an “outperform overweight” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 18th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $101.44.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. The Company provides a range of financial products and services to approximately 11 million individual, small business, commercial, corporate and institutional clients in Canada and around the world. The Company operates through three segments: Retail and Business Banking, Wealth Management and Capital Markets.

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