BB&T Investment Services Inc. lifted its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 513.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,037 shares of the bank’s stock after buying an additional 2,542 shares during the period. BB&T Investment Services Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of Canadian Imperial Bank of Commerce by 55.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,474 shares of the bank’s stock worth $120,000 after purchasing an additional 526 shares during the last quarter. INR Advisory Services LLC purchased a new position in shares of Canadian Imperial Bank of Commerce during the second quarter valued at approximately $125,000. Quantum Capital Management LLC NJ bought a new position in shares of Canadian Imperial Bank of Commerce during the third quarter worth $134,000. Nationwide Fund Advisors purchased a new stake in shares of Canadian Imperial Bank of Commerce in the second quarter valued at $138,000. Finally, D.A. Davidson & CO. purchased a new stake in shares of Canadian Imperial Bank of Commerce in the second quarter valued at $162,000. Institutional investors and hedge funds own 44.76% of the company’s stock.

CM has been the topic of several recent analyst reports. 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 note on Wednesday, September 6th. Canaccord Genuity set a $117.00 price target on shares of Canadian Imperial Bank of Commerce and gave the company a “buy” rating in a research report on Thursday, August 24th. Credit Suisse Group raised shares of Canadian Imperial Bank of Commerce from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $116.00 to $125.00 in a research report on Friday, December 1st. Scotiabank reissued a “hold” rating and set a $128.00 price target on shares of Canadian Imperial Bank of Commerce in a research report on Wednesday, November 22nd. Finally, Zacks Investment Research raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Monday. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and a consensus price target of $114.00.

Canadian Imperial Bank of Commerce (NYSE:CM) traded down $0.70 during mid-day trading on Wednesday, hitting $94.05. The stock had a trading volume of 601,800 shares, compared to its average volume of 756,940. The firm has a market capitalization of $41,626.49, a P/E ratio of 11.13, a P/E/G ratio of 4.66 and a beta of 1.12. Canadian Imperial Bank of Commerce has a 1-year low of $77.20 and a 1-year high of $96.64. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.96 and a quick ratio of 0.96.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 29th. Stockholders of record on Thursday, December 28th will be issued a $1.011 dividend. This represents a $4.04 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend is Wednesday, December 27th. Canadian Imperial Bank of Commerce’s payout ratio is currently 47.04%.

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About Canadian Imperial Bank of Commerce

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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