Nexus Investment Management Inc. raised its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 0.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 33,052 shares of the bank’s stock after buying an additional 109 shares during the period. Nexus Investment Management Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $2,683,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CM. Parallel Advisors LLC boosted 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. Koch Industries Inc. acquired a new stake in Canadian Imperial Bank of Commerce during the first quarter worth about $207,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Canadian Imperial Bank of Commerce during the first quarter worth about $209,000. Shoker Investment Counsel Inc. purchased a new stake in shares of Canadian Imperial Bank of Commerce during the first quarter worth $216,000. Finally, Private Advisor Group LLC purchased a new stake in shares of Canadian Imperial Bank of Commerce during the first quarter worth $227,000. Hedge funds and other institutional investors own 47.69% of the company’s stock.

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) opened at 85.73 on Monday. The stock has a 50 day moving average of $83.01 and a 200 day moving average of $83.96. The company has a market cap of $34.43 billion, a price-to-earnings ratio of 9.00 and a beta of 1.09. Canadian Imperial Bank of Commerce has a 12-month low of $72.62 and a 12-month high of $92.22.

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

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CM has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “sell” rating in a research note on Friday, May 5th. National Bank Financial restated an “outperform overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 18th. BidaskClub upgraded shares of Canadian Imperial Bank of Commerce from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Finally, Canaccord Genuity initiated coverage on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, July 18th. They set a “buy” rating for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $100.63.

Canadian Imperial Bank of Commerce Company Profile

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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