Canadian Imperial Bank of Commerce (NYSE:CM) Stake Boosted by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd raised its stake in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 8.5% during the second quarter, Holdings Channel reports. The firm owned 134,685 shares of the bank’s stock after buying an additional 10,582 shares during the period. Gulf International Bank UK Ltd’s holdings in Canadian Imperial Bank of Commerce were worth $10,949,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. PNC Financial Services Group Inc. boosted its position 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 valued at $485,000 after buying an additional 21 shares during the period. Envestnet Asset Management Inc. boosted its stake in 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 buying an additional 33 shares during the last quarter. Nexus Investment Management Inc. boosted its stake in Canadian Imperial Bank of Commerce by 0.3% in the first quarter. Nexus Investment Management Inc. now owns 32,943 shares of the bank’s stock worth $2,836,000 after buying an additional 98 shares during the last quarter. Parallel Advisors LLC boosted its stake in Canadian Imperial Bank of Commerce by 7.2% in the first quarter. Parallel Advisors LLC now owns 1,915 shares of the bank’s stock worth $152,000 after buying an additional 129 shares during the last quarter. Finally, United Services Automobile Association boosted its stake in Canadian Imperial Bank of Commerce by 0.4% in the first quarter. United Services Automobile Association now owns 33,318 shares of the bank’s stock worth $2,872,000 after buying an additional 138 shares during the last quarter. Institutional investors own 47.60% of the company’s stock.

Canadian Imperial Bank of Commerce (NYSE:CM) traded down 0.56% during trading on Friday, reaching $86.29. The company had a trading volume of 327,671 shares. The firm’s 50 day moving average price is $81.26 and its 200 day moving average price is $83.84. Canadian Imperial Bank of Commerce has a 12-month low of $72.62 and a 12-month high of $92.22. The firm has a market capitalization of $34.65 billion, a PE ratio of 9.09 and a beta of 1.08.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Wednesday, June 28th will be paid a dividend of $0.9406 per share. This represents a $3.76 annualized dividend and a dividend yield of 4.36%. The ex-dividend date is 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 recent research reports. Zacks Investment Research lowered Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research note on Tuesday, April 25th. Credit Suisse Group AG upgraded Canadian Imperial Bank of Commerce from an “underperform” rating to a “neutral” rating in a research note on Friday, March 31st. National Bank Financial restated an “outperform overweight” rating on shares of Canadian Imperial Bank of Commerce in a research note on Thursday, May 18th. Canaccord Genuity assumed coverage on Canadian Imperial Bank of Commerce in a research note on Tuesday. They set a “buy” rating on the stock. Finally, BidaskClub raised Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus 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.

Want to see what other hedge funds are holding CM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM).

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

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