Wetherby Asset Management Inc. increased its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 21.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,357 shares of the bank’s stock after buying an additional 1,298 shares during the period. Wetherby Asset Management Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $597,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. TD Asset Management Inc. raised its position in shares of Canadian Imperial Bank of Commerce by 3.1% in the second quarter. TD Asset Management Inc. now owns 20,328,408 shares of the bank’s stock valued at $1,649,658,000 after buying an additional 620,661 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Canadian Imperial Bank of Commerce by 4.7% in the first quarter. Vanguard Group Inc. now owns 8,468,455 shares of the bank’s stock valued at $730,065,000 after buying an additional 381,319 shares in the last quarter. CIBC Asset Management Inc raised its position in shares of Canadian Imperial Bank of Commerce by 13.3% in the second quarter. CIBC Asset Management Inc now owns 7,730,504 shares of the bank’s stock valued at $627,527,000 after buying an additional 907,963 shares in the last quarter. Acadian Asset Management LLC raised its position in shares of Canadian Imperial Bank of Commerce by 7.2% in the second quarter. Acadian Asset Management LLC now owns 6,091,971 shares of the bank’s stock valued at $494,364,000 after buying an additional 407,672 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp raised its position in shares of Canadian Imperial Bank of Commerce by 1.2% in the first quarter. OMERS ADMINISTRATION Corp now owns 3,724,840 shares of the bank’s stock valued at $320,269,000 after buying an additional 45,790 shares in the last quarter. Hedge funds and other institutional investors own 48.19% of the company’s stock.

Shares of Canadian Imperial Bank of Commerce (NYSE CM) opened at 84.16 on Friday. The stock has a market capitalization of $33.80 billion, a P/E ratio of 8.80 and a beta of 1.09. The company’s 50-day moving average is $84.22 and its 200 day moving average is $84.05. Canadian Imperial Bank of Commerce has a 52 week low of $72.62 and a 52 week high of $92.22.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Wednesday, June 28th were paid a dividend of $0.9406 per share. The ex-dividend date of this dividend was Monday, June 26th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.47%. Canadian Imperial Bank of Commerce’s dividend payout ratio is currently 41.18%.

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CM has been the topic of several recent research reports. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 18th. BidaskClub raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Zacks Investment Research downgraded shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday, April 25th. Finally, Canaccord Genuity initiated coverage on shares of Canadian Imperial Bank of Commerce in a research note on Tuesday, July 18th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and a consensus price target of $100.63.

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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