Beutel Goodman & Co Ltd. cut its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 6,613,713 shares of the bank’s stock after selling 111,890 shares during the period. Canadian Imperial Bank of Commerce makes up about 4.9% of Beutel Goodman & Co Ltd.’s portfolio, making the stock its 7th largest position. Beutel Goodman & Co Ltd. owned 1.65% of Canadian Imperial Bank of Commerce worth $536,871,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its stake in Canadian Imperial Bank of Commerce by 0.4% in the first quarter. PNC Financial Services Group Inc. now owns 5,627 shares of the bank’s stock valued at $485,000 after buying an additional 21 shares during the period. Envestnet Asset Management Inc. raised its stake in Canadian Imperial Bank of Commerce by 0.6% in the first quarter. Envestnet Asset Management Inc. now owns 5,118 shares of the bank’s stock worth $441,000 after buying an additional 33 shares during the period. Nexus Investment Management Inc. raised its stake in Canadian Imperial Bank of Commerce by 0.3% in the first quarter. Nexus Investment Management Inc. now owns 32,943 shares of the bank’s stock worth $2,836,000 after buying an additional 98 shares during the period. Parallel Advisors LLC raised its stake in Canadian Imperial Bank of Commerce by 7.2% in the first quarter. Parallel Advisors LLC now owns 1,915 shares of the bank’s stock worth $152,000 after buying an additional 129 shares during the period. Finally, United Services Automobile Association boosted its position in Canadian Imperial Bank of Commerce by 0.4% in the first quarter. United Services Automobile Association now owns 33,318 shares of the bank’s stock worth $2,872,000 after buying an additional 138 shares in the last quarter. Institutional investors own 47.69% of the company’s stock.

Shares of Canadian Imperial Bank of Commerce (CM) traded down 0.42% on Friday, hitting $85.73. 277,765 shares of the stock were exchanged. Canadian Imperial Bank of Commerce has a one year low of $72.62 and a one year high of $92.22. The firm’s 50-day moving average is $83.01 and its 200-day moving average is $83.96. The company has a market cap of $34.43 billion, a P/E ratio of 9.00 and a beta of 1.09.

The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Wednesday, June 28th were issued a dividend of $0.9406 per share. The ex-dividend date was Monday, June 26th. This represents a $3.76 dividend on an annualized basis and a yield of 4.39%. Canadian Imperial Bank of Commerce’s payout ratio is 41.18%.

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Several analysts have recently issued reports on CM shares. BidaskClub cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Zacks Investment Research raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a report on Tuesday, July 18th. Canaccord Genuity assumed coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, July 18th. They set a “buy” rating on the stock. Finally, National Bank Financial reaffirmed an “outperform overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and a consensus price target of $100.63.

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)

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