Investec Asset Management LTD raised its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,220,130 shares of the bank’s stock after acquiring an additional 71,926 shares during the period. Canadian Imperial Bank of Commerce accounts for about 1.2% of Investec Asset Management LTD’s holdings, making the stock its 19th biggest position. Investec Asset Management LTD owned 0.80% of Canadian Imperial Bank of Commerce worth $261,315,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CM. Intact Investment Management Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 130.9% during the 2nd quarter. Intact Investment Management Inc. now owns 1,635,780 shares of the bank’s stock worth $172,117,000 after buying an additional 927,280 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Canadian Imperial Bank of Commerce by 13.3% during the 2nd quarter. CIBC Asset Management Inc now owns 7,730,504 shares of the bank’s stock worth $627,527,000 after buying an additional 907,963 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Canadian Imperial Bank of Commerce during the 1st quarter worth $82,838,000. TD Asset Management Inc. increased its holdings in shares of Canadian Imperial Bank of Commerce by 3.1% during the 2nd quarter. TD Asset Management Inc. now owns 20,328,408 shares of the bank’s stock worth $1,649,658,000 after buying an additional 620,661 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Canadian Imperial Bank of Commerce by 1,191.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 663,762 shares of the bank’s stock worth $53,865,000 after buying an additional 612,362 shares during the last quarter. Institutional investors own 46.47% of the company’s stock.

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A number of analysts have recently commented on the company. TD Securities upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Wednesday, September 6th. Zacks Investment Research upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. BidaskClub upgraded Canadian Imperial Bank of Commerce from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, Canaccord Genuity started coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, July 18th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $101.80.

Canadian Imperial Bank of Commerce (CM) traded down 0.36% during trading on Friday, reaching $87.90. 446,383 shares of the company’s stock were exchanged. Canadian Imperial Bank of Commerce has a 1-year low of $72.62 and a 1-year high of $92.22. The company’s 50-day moving average is $85.51 and its 200-day moving average is $83.67. The company has a market capitalization of $38.32 billion, a PE ratio of 10.00 and a beta of 1.08.

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 issued a $1.0329 dividend. This represents a $4.13 annualized dividend and a yield of 4.70%. The ex-dividend date is Wednesday, September 27th. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 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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