Dimensional Fund Advisors LP increased its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 4.3% during the first quarter, Holdings Channel reports. The fund owned 239,987 shares of the bank’s stock after buying an additional 9,819 shares during the period. Dimensional Fund Advisors LP’s holdings in Canadian Imperial Bank of Commerce were worth $20,689,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CM. Howe & Rusling Inc. boosted its position in Canadian Imperial Bank of Commerce by 5.1% in the first quarter. Howe & Rusling Inc. now owns 92,839 shares of the bank’s stock worth $8,004,000 after buying an additional 4,506 shares during the last quarter. Strategic Global Advisors LLC bought a new position in Canadian Imperial Bank of Commerce during the first quarter worth approximately $400,000. ARP Americas LLC bought a new position in Canadian Imperial Bank of Commerce during the first quarter worth approximately $241,000. Capstone Asset Management Co. boosted its position in Canadian Imperial Bank of Commerce by 7.4% in the first quarter. Capstone Asset Management Co. now owns 41,594 shares of the bank’s stock worth $3,586,000 after buying an additional 2,870 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Canadian Imperial Bank of Commerce during the first quarter worth approximately $209,000. Hedge funds and other institutional investors own 48.19% of the company’s stock.

Shares of Canadian Imperial Bank of Commerce (NYSE CM) traded down 0.49% on Friday, reaching $83.54. 147,479 shares of the company’s stock traded hands. The firm has a market capitalization of $33.55 billion, a P/E ratio of 8.73 and a beta of 1.09. 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 is $84.13 and its 200 day moving average is $84.05.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Wednesday, June 28th were given a dividend of $0.9406 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date was Monday, June 26th. Canadian Imperial Bank of Commerce’s dividend payout ratio is presently 41.18%.

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CM has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Tuesday, April 25th. National Bank Financial restated an “outperform overweight” rating on shares of Canadian Imperial Bank of Commerce in a report on Thursday, May 18th. BidaskClub cut shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, Canaccord Genuity initiated coverage on shares of Canadian Imperial Bank of Commerce in a report on Tuesday, July 18th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $100.63.

About Canadian Imperial Bank of Commerce

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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