Canadian Imperial Bank of Commerce (CM) Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC boosted its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 7.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,915 shares of the bank’s stock after buying an additional 129 shares during the period. Parallel Advisors LLC’s holdings in Canadian Imperial Bank of Commerce were worth $152,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. FNY Partners Fund LP bought a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $114,000. Tyers Asset Management LLC bought a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $158,000. Flinton Capital Management LLC bought a new stake in shares of Canadian Imperial Bank of Commerce during the fourth quarter valued at approximately $191,000. Koch Industries Inc. acquired a new position in Canadian Imperial Bank of Commerce during the first quarter worth approximately $207,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Canadian Imperial Bank of Commerce during the first quarter worth approximately $209,000. 51.88% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Canadian Imperial Bank of Commerce (NYSE:CM)

Canadian Imperial Bank of Commerce (NYSE:CM) traded up 0.20% during midday trading on Monday, hitting $80.80. 948,006 shares of the stock traded hands. The company has a 50-day moving average price of $78.97 and a 200-day moving average price of $83.88. The firm has a market cap of $32.45 billion, a P/E ratio of 9.07 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Wednesday, June 28th will be given a dividend of $0.9406 per share. This represents a $3.76 annualized dividend and a yield of 4.66%. The ex-dividend date of this dividend is Monday, June 26th. Canadian Imperial Bank of Commerce’s payout ratio is 41.84%.

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A number of research analysts have commented on CM shares. Zacks Investment Research upgraded shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “strong-buy” rating and set a $103.00 price objective on the stock in a research note on Thursday, February 23rd. Keefe, Bruyette & Woods upgraded shares of Canadian Imperial Bank of Commerce from an “underperform” rating to a “mkt perform” rating in a research note on Friday, February 24th. Credit Suisse Group upgraded shares of Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a research note on Friday, March 31st. National Bank Financial reiterated an “outperform overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 18th. Finally, BidaskClub upgraded shares of Canadian Imperial Bank of Commerce from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $101.44.

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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