Comerica Bank boosted its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 107.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,033 shares of the bank’s stock after buying an additional 24,922 shares during the period. Comerica Bank’s holdings in Canadian Imperial Bank of Commerce were worth $4,138,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Karp Capital Management Corp bought a new position in shares of Canadian Imperial Bank of Commerce during the first quarter valued at $31,395,000. UBS Asset Management Americas Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 3.3% in the first quarter. UBS Asset Management Americas Inc. now owns 1,692,055 shares of the bank’s stock valued at $145,486,000 after buying an additional 53,522 shares in the last quarter. World Asset Management Inc boosted its position in shares of Canadian Imperial Bank of Commerce by 1.3% in the first quarter. World Asset Management Inc now owns 24,645 shares of the bank’s stock valued at $2,125,000 after buying an additional 324 shares in the last quarter. CLS Investments LLC boosted its position in shares of Canadian Imperial Bank of Commerce by 16.7% in the first quarter. CLS Investments LLC now owns 3,834 shares of the bank’s stock valued at $331,000 after buying an additional 548 shares in the last quarter. Finally, Suntrust Banks Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 2.5% in the first quarter. Suntrust Banks Inc. now owns 13,156 shares of the bank’s stock valued at $1,133,000 after buying an additional 320 shares in the last quarter. Institutional investors and hedge funds own 46.70% of the company’s stock.

Canadian Imperial Bank of Commerce (NYSE:CM) opened at 84.39 on Tuesday. The firm has a market cap of $36.79 billion, a PE ratio of 9.74 and a beta of 1.09. The stock’s 50 day moving average price is $85.17 and its 200-day moving average price is $83.97. Canadian Imperial Bank of Commerce has a 12-month low of $72.62 and a 12-month high of $92.22.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Thursday, September 28th will be issued a $1.0329 dividend. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend is Wednesday, September 27th. This represents a $4.13 dividend on an annualized basis and a dividend yield of 4.90%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is presently 45.25%.

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Several brokerages have weighed in on CM. Zacks Investment Research raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub raised Canadian Imperial Bank of Commerce from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, Canaccord Genuity began coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, July 18th. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $102.43.

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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