Nexus Investment Management Inc. raised its position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 12.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,020 shares of the bank’s stock after purchasing an additional 4,432 shares during the quarter. Nexus Investment Management Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $3,220,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Banco de Sabadell S.A lifted its holdings in Canadian Imperial Bank of Commerce by 13.5% during the second quarter. Banco de Sabadell S.A now owns 17,600 shares of the bank’s stock valued at $1,812,000 after purchasing an additional 2,100 shares in the last quarter. BB&T Corp lifted its holdings in Canadian Imperial Bank of Commerce by 1.7% during the second quarter. BB&T Corp now owns 38,256 shares of the bank’s stock valued at $3,005,000 after purchasing an additional 654 shares in the last quarter. Cidel Asset Management Inc. lifted its holdings in Canadian Imperial Bank of Commerce by 2.4% during the second quarter. Cidel Asset Management Inc. now owns 281,344 shares of the bank’s stock valued at $22,172,000 after purchasing an additional 6,575 shares in the last quarter. Investec Asset Management LTD lifted its holdings in Canadian Imperial Bank of Commerce by 478.2% during the second quarter. Investec Asset Management LTD now owns 648,507 shares of the bank’s stock valued at $8,803,000 after purchasing an additional 536,357 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Canadian Imperial Bank of Commerce by 10.2% during the second quarter. Van ECK Associates Corp now owns 13,631 shares of the bank’s stock valued at $1,072,000 after purchasing an additional 1,262 shares in the last quarter. 44.54% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have weighed in on CM. Zacks Investment Research downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Monday, August 19th. BMO Capital Markets reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 23rd. Barclays reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, August 22nd. Royal Bank of Canada reissued a “hold” rating and issued a $124.00 target price (down previously from $128.00) on shares of Canadian Imperial Bank of Commerce in a report on Friday, August 23rd. Finally, Scotiabank reissued a “hold” rating on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, August 20th. Ten investment analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average price target of $120.67.

Shares of CM stock traded up $0.89 during mid-day trading on Wednesday, hitting $81.41. The company had a trading volume of 348,424 shares, compared to its average volume of 447,911. Canadian Imperial Bank of Commerce has a 52-week low of $72.96 and a 52-week high of $92.70. The stock’s 50 day moving average price is $79.89 and its 200-day moving average price is $79.65. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $35.82 billion, a P/E ratio of 8.72, a P/E/G ratio of 2.93 and a beta of 1.17.

Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) last released its earnings results on Thursday, August 22nd. The bank reported $3.10 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 the consensus estimate of $3.50 billion. During the same quarter in the previous year, the firm earned $3.08 earnings per share. On average, equities research analysts expect that Canadian Imperial Bank of Commerce will post 9.1 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 28th. Investors of record on Friday, September 27th will be given a $1.091 dividend. This represents a $4.36 annualized dividend and a yield of 5.36%. The ex-dividend date is Thursday, September 26th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $1.04. Canadian Imperial Bank of Commerce’s payout ratio is currently 46.36%.

About Canadian Imperial Bank of Commerce

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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