Logan Capital Management Inc. raised its holdings in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 11.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,715 shares of the bank’s stock after buying an additional 1,212 shares during the quarter. Logan Capital Management Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $951,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CM. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Canadian Imperial Bank of Commerce by 55.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the bank’s stock valued at $120,000 after purchasing an additional 526 shares during the last quarter. INR Advisory Services LLC acquired a new position in Canadian Imperial Bank of Commerce during the second quarter worth $125,000. Opera Trading Capital acquired a new position in Canadian Imperial Bank of Commerce during the second quarter worth $136,000. Nationwide Fund Advisors acquired a new position in Canadian Imperial Bank of Commerce during the second quarter worth $138,000. Finally, Parallel Advisors LLC boosted its stake in Canadian Imperial Bank of Commerce by 7.2% during the first quarter. Parallel Advisors LLC now owns 1,915 shares of the bank’s stock worth $152,000 after buying an additional 129 shares during the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Several analysts have issued reports on CM shares. BidaskClub upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Canaccord Genuity initiated coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, July 18th. They set a “buy” rating on the stock. Zacks Investment Research upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Finally, TD Securities raised 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 report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $101.80.

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Canadian Imperial Bank of Commerce (CM) traded up 0.16% during midday trading on Wednesday, reaching $88.87. The company’s stock had a trading volume of 75,154 shares. The firm’s 50-day moving average price is $86.33 and its 200-day moving average price is $83.54. Canadian Imperial Bank of Commerce has a 52 week low of $72.62 and a 52 week high of $92.22. The stock has a market capitalization of $38.74 billion, a PE ratio of 9.82 and a beta of 1.09.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Thursday, September 28th will be paid a $1.0329 dividend. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. This represents a $4.13 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend is Wednesday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 49.82%.

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.

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

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