Tyers Asset Management LLC raised its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 12.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,264 shares of the bank’s stock after buying an additional 588 shares during the quarter. Tyers Asset Management LLC’s holdings in Canadian Imperial Bank of Commerce were worth $398,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Meridian Wealth Management LLC bought a new stake in shares of Canadian Imperial Bank of Commerce during the 1st quarter valued at about $32,000. Advisory Alpha LLC bought a new stake in shares of Canadian Imperial Bank of Commerce during the 1st quarter valued at about $41,000. CWM LLC boosted its position in shares of Canadian Imperial Bank of Commerce by 86.7% during the 2nd quarter. CWM LLC now owns 758 shares of the bank’s stock valued at $60,000 after acquiring an additional 352 shares during the last quarter. Cornerstone Advisors Inc. boosted its position in shares of Canadian Imperial Bank of Commerce by 22.1% during the 1st quarter. Cornerstone Advisors Inc. now owns 846 shares of the bank’s stock valued at $67,000 after acquiring an additional 153 shares during the last quarter. Finally, Weaver Consulting Group boosted its position in shares of Canadian Imperial Bank of Commerce by 347.2% during the 2nd quarter. Weaver Consulting Group now owns 1,288 shares of the bank’s stock valued at $101,000 after acquiring an additional 1,000 shares during the last quarter. 44.54% of the stock is owned by institutional investors and hedge funds.

Shares of Canadian Imperial Bank of Commerce stock traded up $0.55 on Friday, hitting $81.90. The stock had a trading volume of 161,163 shares, compared to its average volume of 575,842. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.16. Canadian Imperial Bank of Commerce has a one year low of $72.96 and a one year high of $96.98. The stock has a market cap of $36.44 billion, a price-to-earnings ratio of 8.77, a PEG ratio of 8.40 and a beta of 1.17. The stock’s 50-day simple moving average is $76.88 and its two-hundred day simple moving average is $79.99.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last issued its earnings results on Thursday, August 22nd. The bank reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.29 by $0.81. Canadian Imperial Bank of Commerce had a net margin of 18.39% and a return on equity of 15.92%. The firm had revenue of $3.54 billion for the quarter, compared to analysts’ expectations of $3.50 billion. During the same quarter last year, the business earned $3.08 earnings per share. As a group, equities analysts predict that Canadian Imperial Bank of Commerce will post 9.1 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 28th. Stockholders of record on Friday, September 27th will be issued a $1.091 dividend. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $4.36 annualized dividend and a dividend yield of 5.33%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 44.33%.

A number of research analysts have commented on CM shares. Canaccord Genuity cut shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Royal Bank of Canada reiterated a “hold” rating and set a $124.00 price target (down from $128.00) on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 23rd. Scotiabank reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, August 20th. Desjardins cut shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Finally, BMO Capital Markets reiterated a “hold” rating on shares of Canadian Imperial Bank of Commerce in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating and nine have given a hold rating to the stock. Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and a consensus price target of $120.67.

Canadian Imperial Bank of Commerce Company Profile

Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Small Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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

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