Stock Traders Purchase Large Volume of Canadian Imperial Bank of Commerce Put Options (NYSE:CM)

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) was the recipient of unusually large options trading on Tuesday. Traders bought 2,145 put options on the stock. This is an increase of 713% compared to the average volume of 264 put options.

A number of institutional investors and hedge funds have recently modified their holdings of CM. Toronto Dominion Bank lifted its position in shares of Canadian Imperial Bank of Commerce by 31.6% in the second quarter. Toronto Dominion Bank now owns 18,311,681 shares of the bank’s stock valued at $1,439,731,000 after acquiring an additional 4,401,289 shares in the last quarter. TD Asset Management Inc. lifted its position in shares of Canadian Imperial Bank of Commerce by 1.8% in the first quarter. TD Asset Management Inc. now owns 17,439,047 shares of the bank’s stock valued at $1,378,467,000 after acquiring an additional 315,286 shares in the last quarter. Bank of Nova Scotia lifted its position in shares of Canadian Imperial Bank of Commerce by 1.0% in the second quarter. Bank of Nova Scotia now owns 7,920,959 shares of the bank’s stock valued at $617,277,000 after acquiring an additional 81,275 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of Canadian Imperial Bank of Commerce by 0.3% in the first quarter. Acadian Asset Management LLC now owns 6,058,122 shares of the bank’s stock valued at $478,862,000 after acquiring an additional 16,163 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of Canadian Imperial Bank of Commerce by 0.9% in the first quarter. Great West Life Assurance Co. Can now owns 4,524,036 shares of the bank’s stock valued at $356,499,000 after acquiring an additional 40,036 shares in the last quarter. 45.15% of the stock is currently owned by institutional investors.

Several research firms recently commented on CM. BMO Capital Markets reaffirmed a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 23rd. Canaccord Genuity lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. TD Securities lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Zacks Investment Research raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Friday, August 9th. Finally, Desjardins lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Wednesday, May 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $120.00.



CM traded down $1.32 during trading on Wednesday, hitting $74.67. The company’s stock had a trading volume of 5,766 shares, compared to its average volume of 392,243. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.12. Canadian Imperial Bank of Commerce has a twelve month low of $72.96 and a twelve month high of $96.98. The business’s fifty day moving average price is $78.22. The company has a market cap of $33.81 billion, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 6.72 and a beta of 1.17.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its quarterly earnings data on Wednesday, May 22nd. The bank reported $2.97 EPS for the quarter, beating the consensus estimate of $2.22 by $0.75. Canadian Imperial Bank of Commerce had a return on equity of 16.30% and a net margin of 18.83%. The company had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same period last year, the company earned $2.95 earnings per share. Equities research analysts forecast that Canadian Imperial Bank of Commerce will post 9.02 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 29th. Shareholders of record on Friday, June 28th were issued a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 5.57%. The ex-dividend date was Thursday, June 27th. Canadian Imperial Bank of Commerce’s payout ratio is currently 44.33%.

Canadian Imperial Bank of Commerce Company 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 four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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