Investec Asset Management PTY Ltd grew its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 48.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,373 shares of the bank’s stock after buying an additional 5,659 shares during the period. Canadian Imperial Bank of Commerce accounts for approximately 0.8% of Investec Asset Management PTY Ltd’s holdings, making the stock its 28th biggest position. Investec Asset Management PTY Ltd’s holdings in Canadian Imperial Bank of Commerce were worth $1,409,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Canadian Imperial Bank of Commerce by 8.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 168,266 shares of the bank’s stock valued at $13,655,000 after buying an additional 13,818 shares in the last quarter. Strategic Global Advisors LLC bought a new position in Canadian Imperial Bank of Commerce in the 1st quarter worth about $400,000. AXA boosted its stake in Canadian Imperial Bank of Commerce by 11.8% in the 2nd quarter. AXA now owns 464,282 shares of the bank’s stock worth $37,681,000 after purchasing an additional 48,873 shares in the last quarter. Sprott Inc. bought a new position in Canadian Imperial Bank of Commerce in the 2nd quarter worth about $1,128,000. Finally, TD Asset Management Inc. boosted its stake in Canadian Imperial Bank of Commerce by 3.1% in the 2nd quarter. TD Asset Management Inc. now owns 20,328,408 shares of the bank’s stock worth $1,649,658,000 after purchasing an additional 620,661 shares in the last quarter. Hedge funds and other institutional investors own 46.47% of the company’s stock.

CM has been the topic 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 26th. 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. Canaccord Genuity initiated coverage on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, July 18th. They issued a “buy” rating on the stock. Finally, TD Securities upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 price target on the stock in a research note on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. Canadian Imperial Bank of Commerce has an average rating of “Hold” and a consensus target price of $101.80.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Thursday, September 28th will be paid a dividend of $1.0329 per share. The ex-dividend date is Wednesday, September 27th. This represents a $4.13 dividend on an annualized basis and a yield of 4.70%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. Canadian Imperial Bank of Commerce’s payout ratio is 45.25%.

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Canadian Imperial Bank of Commerce 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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