Cidel Asset Management Inc. Boosts Stake in Canadian Imperial Bank of Commerce (CM)

Cidel Asset Management Inc. raised its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 331,440 shares of the bank’s stock after buying an additional 6,299 shares during the period. Canadian Imperial Bank of Commerce comprises approximately 1.2% of Cidel Asset Management Inc.’s portfolio, making the stock its 24th largest position. Cidel Asset Management Inc. owned 0.08% of Canadian Imperial Bank of Commerce worth $26,905,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CM. Naples Global Advisors LLC raised its stake in shares of Canadian Imperial Bank of Commerce by 3.3% in the first quarter. Naples Global Advisors LLC now owns 12,620 shares of the bank’s stock worth $1,088,000 after buying an additional 400 shares in the last quarter. Aull & Monroe Investment Management Corp acquired a new stake in shares of Canadian Imperial Bank of Commerce during the first quarter worth approximately $784,000. Korea Investment CORP raised its stake in shares of Canadian Imperial Bank of Commerce by 69.0% in the first quarter. Korea Investment CORP now owns 263,094 shares of the bank’s stock worth $22,621,000 after buying an additional 107,436 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Canadian Imperial Bank of Commerce by 14.3% in the first quarter. Acadian Asset Management LLC now owns 5,684,299 shares of the bank’s stock worth $488,755,000 after buying an additional 709,927 shares in the last quarter. Finally, Shell Asset Management Co. raised its stake in shares of Canadian Imperial Bank of Commerce by 1.5% in the first quarter. Shell Asset Management Co. now owns 80,096 shares of the bank’s stock worth $9,185,000 after buying an additional 1,169 shares in the last quarter. 48.46% of the stock is currently owned by institutional investors and hedge funds.

Canadian Imperial Bank of Commerce (NYSE:CM) opened at 84.18 on Friday. 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 50 day moving average of $84.70 and a 200 day moving average of $84.01. The firm has a market capitalization of $33.81 billion, a P/E ratio of 8.80 and a beta of 1.09.

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

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CM has been the topic of a number of research reports. Zacks Investment Research lowered shares of Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a research report on Tuesday, April 25th. National Bank Financial reaffirmed an “outperform overweight” rating on shares of Canadian Imperial Bank of Commerce in a research report on Thursday, May 18th. BidaskClub raised shares of Canadian Imperial Bank of Commerce from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Finally, Canaccord Genuity initiated coverage on shares of Canadian Imperial Bank of Commerce in a research report 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 given a buy rating to the company. Canadian Imperial Bank of Commerce has a consensus rating of “Hold” and an average price target 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.

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

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