Prudential PLC raised its holdings in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 18.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 291,487 shares of the bank’s stock after buying an additional 45,023 shares during the quarter. Prudential PLC owned about 0.07% of Canadian Imperial Bank of Commerce worth $23,657,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CM. Stephens Inc. AR raised its stake in shares of Canadian Imperial Bank of Commerce by 0.3% in the second quarter. Stephens Inc. AR now owns 6,848 shares of the bank’s stock worth $556,000 after purchasing an additional 19 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 0.4% in the first quarter. PNC Financial Services Group Inc. now owns 5,627 shares of the bank’s stock worth $485,000 after purchasing an additional 21 shares during the last quarter. Strategic Global Advisors LLC raised its stake in shares of Canadian Imperial Bank of Commerce by 0.6% in the second quarter. Strategic Global Advisors LLC now owns 4,667 shares of the bank’s stock worth $379,000 after purchasing an additional 30 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 0.6% in the first quarter. Envestnet Asset Management Inc. now owns 5,118 shares of the bank’s stock worth $441,000 after purchasing an additional 33 shares during the last quarter. Finally, Shoker Investment Counsel Inc. raised its stake in shares of Canadian Imperial Bank of Commerce by 3.4% in the second quarter. Shoker Investment Counsel Inc. now owns 2,595 shares of the bank’s stock worth $210,000 after purchasing an additional 85 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Shares of Canadian Imperial Bank of Commerce (NYSE:CM) traded down 0.379% on Friday, hitting $88.115. The stock had a trading volume of 39,984 shares. Canadian Imperial Bank of Commerce has a 52-week low of $72.62 and a 52-week high of $92.22. The firm’s 50-day moving average price is $86.56 and its 200 day moving average price is $83.62. The firm has a market cap of $38.41 billion, a PE ratio of 9.736 and a beta of 1.09.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Thursday, September 28th will be given a $1.0329 dividend. The ex-dividend date is Wednesday, September 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. This represents a $4.13 dividend on an annualized basis and a dividend yield of 4.67%. Canadian Imperial Bank of Commerce’s dividend payout ratio is 49.82%.

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Several research analysts have recently issued reports on CM shares. BidaskClub upgraded Canadian Imperial Bank of Commerce from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Zacks Investment Research upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Canaccord Genuity started coverage on Canadian Imperial Bank of Commerce in a research note on Tuesday, July 18th. They issued a “buy” rating for the company. Finally, TD Securities upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research note on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, three 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 target price of $101.80.

Canadian Imperial Bank of Commerce Company 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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