Rathbone Brothers plc grew its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 82,968 shares of the bank’s stock after purchasing an additional 1,323 shares during the period. Rathbone Brothers plc’s holdings in Canadian Imperial Bank of Commerce were worth $6,733,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Shoker Investment Counsel Inc. increased its stake in shares of Canadian Imperial Bank of Commerce by 3.4% in the 2nd quarter. Shoker Investment Counsel Inc. now owns 2,595 shares of the bank’s stock valued at $210,000 after purchasing an additional 85 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Canadian Imperial Bank of Commerce in the 2nd quarter valued at $395,000. Timber Hill LLC bought a new position in shares of Canadian Imperial Bank of Commerce in the 2nd quarter valued at $732,000. Intact Investment Management Inc. increased its stake in shares of Canadian Imperial Bank of Commerce by 130.9% in the 2nd quarter. Intact Investment Management Inc. now owns 1,635,780 shares of the bank’s stock valued at $172,117,000 after purchasing an additional 927,280 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT bought a new position in shares of Canadian Imperial Bank of Commerce in the 2nd quarter valued at $498,000. Institutional investors own 46.47% of the company’s stock.

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CM has been the topic of several recent analyst reports. Zacks Investment Research upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research note on Tuesday, July 18th. Canaccord Genuity began coverage on Canadian Imperial Bank of Commerce in a research report on Tuesday, July 18th. They set a “buy” rating on the stock. BidaskClub upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. TD Securities upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a research report on Wednesday. Finally, National Bank Financial restated an “outperform overweight” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $102.00.

Shares of Canadian Imperial Bank of Commerce (NYSE CM) traded up 0.61% on Thursday, reaching $86.41. The company’s stock had a trading volume of 157,135 shares. The firm has a market cap of $37.67 billion, a price-to-earnings ratio of 9.96 and a beta of 1.08. The stock has a 50 day moving average of $85.26 and a 200-day moving average of $83.72. Canadian Imperial Bank of Commerce has a 12 month low of $72.62 and a 12 month high of $92.22.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Thursday, September 28th will be paid a $1.0329 dividend. This represents a $4.13 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend is Wednesday, September 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 45.25%.

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.

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Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

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