Bank of New York Mellon Corp decreased its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 638,953 shares of the bank’s stock after selling 28,375 shares during the period. Bank of New York Mellon Corp owned approximately 0.16% of Canadian Imperial Bank of Commerce worth $51,857,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. State of Wisconsin Investment Board increased its position in Canadian Imperial Bank of Commerce by 26.0% in the second quarter. State of Wisconsin Investment Board now owns 615,645 shares of the bank’s stock worth $49,960,000 after buying an additional 126,871 shares during the period. Shufro Rose & Co. LLC purchased a new position in Canadian Imperial Bank of Commerce during the second quarter worth $5,835,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Canadian Imperial Bank of Commerce by 10.6% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 67,646 shares of the bank’s stock worth $4,227,000 after buying an additional 6,500 shares during the period. Pinnacle Financial Partners Inc. increased its position in Canadian Imperial Bank of Commerce by 6.1% in the second quarter. Pinnacle Financial Partners Inc. now owns 20,373 shares of the bank’s stock worth $1,654,000 after buying an additional 1,180 shares during the period. Finally, Pekin Singer Strauss Asset Management IL purchased a new position in Canadian Imperial Bank of Commerce during the second quarter worth $203,000. 46.70% of the stock is owned by hedge funds and other institutional investors.

Shares of Canadian Imperial Bank of Commerce (NYSE CM) opened at 84.60 on Friday. Canadian Imperial Bank of Commerce has a 52 week low of $72.62 and a 52 week high of $92.22. The company has a market cap of $36.88 billion, a PE ratio of 9.75 and a beta of 1.09. The stock’s 50 day moving average price is $85.27 and its 200-day moving average price is $83.85.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Thursday, September 28th will be given a dividend of $1.0329 per share. This is a boost 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 annualized dividend and a dividend yield of 4.88%. Canadian Imperial Bank of Commerce’s payout ratio is presently 45.25%.

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A number of research firms have weighed in on CM. Canaccord Genuity set a $117.00 price target on Canadian Imperial Bank of Commerce and gave the stock a “buy” rating in a research report on Thursday, August 24th. BidaskClub downgraded Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report 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 target for the company in a research report on Tuesday, July 18th. Finally, National Bank Financial reaffirmed an “outperform overweight” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and a consensus price target of $101.17.

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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