Bayesian Capital Management LP Has $380,000 Stock Holdings in Canadian Imperial Bank of Commerce (NYSE:CM)

Bayesian Capital Management LP lessened its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 70.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 7,500 shares of the bank’s stock after selling 17,743 shares during the quarter. Bayesian Capital Management LP’s holdings in Canadian Imperial Bank of Commerce were worth $380,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CM. Norges Bank acquired a new position in shares of Canadian Imperial Bank of Commerce during the 4th quarter worth about $404,008,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Canadian Imperial Bank of Commerce by 94.4% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,080,761 shares of the bank’s stock valued at $292,949,000 after purchasing an additional 2,952,277 shares during the period. TD Asset Management Inc grew its stake in shares of Canadian Imperial Bank of Commerce by 13.8% in the 4th quarter. TD Asset Management Inc now owns 22,550,346 shares of the bank’s stock valued at $1,091,089,000 after purchasing an additional 2,730,076 shares during the period. FIL Ltd grew its stake in shares of Canadian Imperial Bank of Commerce by 218.0% in the 4th quarter. FIL Ltd now owns 3,195,091 shares of the bank’s stock valued at $153,841,000 after purchasing an additional 2,190,378 shares during the period. Finally, Mufg Securities Canada LTD. bought a new stake in shares of Canadian Imperial Bank of Commerce in the 4th quarter valued at approximately $94,373,000. Institutional investors and hedge funds own 49.88% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CM. UBS Group began coverage on Canadian Imperial Bank of Commerce in a research report on Tuesday, July 2nd. They set a “neutral” rating on the stock. Keefe, Bruyette & Woods upgraded Canadian Imperial Bank of Commerce from a “market perform” rating to an “outperform” rating in a research report on Monday, June 3rd. BMO Capital Markets increased their price objective on Canadian Imperial Bank of Commerce from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Finally, StockNews.com lowered Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research report on Saturday, July 20th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and an average price target of $67.00.

Canadian Imperial Bank of Commerce Trading Up 0.5 %

Canadian Imperial Bank of Commerce stock traded up $0.28 during mid-day trading on Wednesday, hitting $51.56. 30,612 shares of the company’s stock were exchanged, compared to its average volume of 1,508,154. The firm has a market capitalization of $48.62 billion, a P/E ratio of 10.55, a PEG ratio of 2.01 and a beta of 1.06. Canadian Imperial Bank of Commerce has a fifty-two week low of $34.35 and a fifty-two week high of $51.64. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.15. The company’s 50 day simple moving average is $48.93 and its 200-day simple moving average is $48.16.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Thursday, May 30th. The bank reported $1.29 EPS for the quarter, topping the consensus estimate of $1.22 by $0.07. The business had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.48 billion. Canadian Imperial Bank of Commerce had a return on equity of 13.06% and a net margin of 10.46%. On average, equities analysts anticipate that Canadian Imperial Bank of Commerce will post 5.05 earnings per share for the current year.

Canadian Imperial Bank of Commerce Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 29th. Shareholders of record on Friday, June 28th were paid a $0.653 dividend. This represents a $2.61 annualized dividend and a dividend yield of 5.07%. The ex-dividend date of this dividend was Friday, June 28th. Canadian Imperial Bank of Commerce’s dividend payout ratio is 54.32%.

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.