PDT Partners LLC Buys 7,619 Shares of Canadian Imperial Bank of Commerce (CM)

PDT Partners LLC increased its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 46.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,103 shares of the bank’s stock after buying an additional 7,619 shares during the period. PDT Partners LLC’s holdings in Canadian Imperial Bank of Commerce were worth $1,957,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Canadian Imperial Bank of Commerce by 16.4% during the 2nd quarter. Vanguard Group Inc. now owns 9,859,474 shares of the bank’s stock valued at $800,194,000 after buying an additional 1,391,019 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Canadian Imperial Bank of Commerce by 494.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,426,039 shares of the bank’s stock worth $115,738,000 after purchasing an additional 1,186,052 shares during the last quarter. Intact Investment Management Inc. raised its position in shares of Canadian Imperial Bank of Commerce by 130.9% in the 2nd quarter. Intact Investment Management Inc. now owns 1,635,780 shares of the bank’s stock worth $172,117,000 after purchasing an additional 927,280 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Canadian Imperial Bank of Commerce by 13.3% in the 2nd quarter. CIBC Asset Management Inc now owns 7,730,504 shares of the bank’s stock worth $627,527,000 after purchasing an additional 907,963 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Canadian Imperial Bank of Commerce by 230.5% in the 2nd quarter. Northern Trust Corp now owns 1,249,419 shares of the bank’s stock worth $101,403,000 after purchasing an additional 871,388 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Canadian Imperial Bank of Commerce (NYSE:CM) opened at 88.73 on Wednesday. The company has a market cap of $38.68 billion, a PE ratio of 9.80 and a beta of 1.09. The stock has a 50 day moving average of $86.33 and a 200 day moving average of $83.54. Canadian Imperial Bank of Commerce has a 52 week low of $72.62 and a 52 week high of $92.22.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Thursday, September 28th will be given a dividend of $1.0329 per share. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. This represents a $4.13 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend is Wednesday, September 27th. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 49.82%.

Several analysts recently commented on the stock. TD Securities raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research report on Wednesday, September 6th. Zacks Investment Research raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub upgraded shares of Canadian Imperial Bank of Commerce from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, Canaccord Genuity assumed coverage on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, July 18th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and an average target price of $101.80.

TRADEMARK VIOLATION WARNING: This piece was first posted by Transcript Daily and is the property of of Transcript Daily. If you are viewing this piece on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark legislation. The original version of this piece can be viewed at https://transcriptdaily.com/2017/10/04/pdt-partners-llc-buys-7619-shares-of-canadian-imperial-bank-of-commerce-cm.html.

About Canadian Imperial Bank of Commerce

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.

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

Receive News & Ratings for Canadian Imperial Bank of Commerce Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Canadian Imperial Bank of Commerce and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply