Lingohr & Partner Asset Management GmbH continued to hold its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,889 shares of the bank’s stock at the end of the 2nd quarter. Lingohr & Partner Asset Management GmbH’s holdings in Canadian Imperial Bank of Commerce were worth $1,197,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Stephens Inc. AR lifted its stake in Canadian Imperial Bank of Commerce by 0.3% during 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. lifted its stake in Canadian Imperial Bank of Commerce by 0.4% during 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 lifted its stake in Canadian Imperial Bank of Commerce by 0.6% during 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. lifted its stake in Canadian Imperial Bank of Commerce by 0.6% during 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. lifted its stake in Canadian Imperial Bank of Commerce by 3.4% during 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. 46.47% of the stock is owned by hedge funds and other institutional investors.

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Several equities research analysts have issued reports on the company. Canaccord Genuity set a $117.00 price target on Canadian Imperial Bank of Commerce and gave the stock a “buy” rating in a research note on Thursday, August 24th. BidaskClub lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Zacks Investment Research raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a research note on Tuesday, July 18th. Finally, TD Securities raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 price target for the company in a research note on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. Canadian Imperial Bank of Commerce presently has a consensus rating of “Hold” and a consensus price target of $101.80.

Canadian Imperial Bank of Commerce (CM) traded down 0.36% during midday trading on Friday, hitting $87.90. The stock had a trading volume of 446,383 shares. The stock’s 50-day moving average is $85.51 and its 200-day moving average is $83.67. The company has a market capitalization of $38.32 billion, a PE ratio of 10.00 and a beta of 1.08. Canadian Imperial Bank of Commerce has a 1-year low of $72.62 and a 1-year high of $92.22.

The business also recently declared 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 of this dividend is Wednesday, September 27th. This represents a $4.13 annualized dividend and a yield of 4.70%. This is a positive change from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is currently 45.25%.

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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