Penserra Capital Management LLC Purchases 954 Shares of Canadian Imperial Bank of Commerce $CM

Penserra Capital Management LLC boosted its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1,177.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,035 shares of the bank’s stock after purchasing an additional 954 shares during the period. Penserra Capital Management LLC’s holdings in Canadian Imperial Bank of Commerce were worth $72,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. boosted its stake in shares of Canadian Imperial Bank of Commerce by 4.1% in the 2nd quarter. Harvest Portfolios Group Inc. now owns 54,922 shares of the bank’s stock worth $3,898,000 after buying an additional 2,172 shares during the last quarter. Savant Capital LLC lifted its holdings in Canadian Imperial Bank of Commerce by 21.7% during the second quarter. Savant Capital LLC now owns 20,253 shares of the bank’s stock worth $1,435,000 after acquiring an additional 3,610 shares during the period. Texas Yale Capital Corp. boosted its position in Canadian Imperial Bank of Commerce by 5.3% in the second quarter. Texas Yale Capital Corp. now owns 6,920 shares of the bank’s stock worth $490,000 after purchasing an additional 350 shares during the last quarter. Achmea Investment Management B.V. grew its stake in Canadian Imperial Bank of Commerce by 14.9% in the 2nd quarter. Achmea Investment Management B.V. now owns 441,786 shares of the bank’s stock valued at $31,295,000 after purchasing an additional 57,149 shares during the period. Finally, Sienna Gestion increased its position in shares of Canadian Imperial Bank of Commerce by 10.4% during the 2nd quarter. Sienna Gestion now owns 319,121 shares of the bank’s stock valued at $20,641,000 after purchasing an additional 30,000 shares during the last quarter. Hedge funds and other institutional investors own 49.88% of the company’s stock.

Canadian Imperial Bank of Commerce Price Performance

CM opened at $86.15 on Friday. The firm has a 50-day moving average price of $81.45 and a 200-day moving average price of $74.17. Canadian Imperial Bank of Commerce has a twelve month low of $53.62 and a twelve month high of $87.29. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $80.01 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 1.76 and a beta of 1.03.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last announced its quarterly earnings results on Thursday, August 28th. The bank reported $1.57 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.14. Canadian Imperial Bank of Commerce had a net margin of 12.94% and a return on equity of 14.67%. The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.12 billion. During the same period in the prior year, the company posted $1.93 EPS. Canadian Imperial Bank of Commerce’s revenue was up 3.3% compared to the same quarter last year. Equities analysts expect that Canadian Imperial Bank of Commerce will post 5.5 EPS for the current year.

Canadian Imperial Bank of Commerce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 28th. Stockholders of record on Monday, September 29th were issued a $0.97 dividend. The ex-dividend date of this dividend was Monday, September 29th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.70. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.5%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 47.64%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CM. Weiss Ratings reissued a “buy (b)” rating on shares of Canadian Imperial Bank of Commerce in a report on Wednesday, October 8th. Royal Bank Of Canada lifted their price objective on shares of Canadian Imperial Bank of Commerce from $112.00 to $113.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Finally, Wall Street Zen raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Monday, November 3rd. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

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.