Crossmark Global Holdings Inc. Purchases New Holdings in Canadian Imperial Bank of Commerce (CM)

Crossmark Global Holdings Inc. purchased a new position in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 135,290 shares of the bank’s stock, valued at approximately $11,841,000.

Several other institutional investors have also bought and sold shares of the business. TD Asset Management Inc. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 3.1% during the 2nd quarter. TD Asset Management Inc. now owns 20,328,408 shares of the bank’s stock worth $1,649,658,000 after buying an additional 620,661 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Canadian Imperial Bank of Commerce by 16.4% during the 2nd quarter. Vanguard Group Inc. now owns 9,859,474 shares of the bank’s stock worth $800,194,000 after buying an additional 1,391,019 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Canadian Imperial Bank of Commerce by 13.3% during the 2nd quarter. CIBC Asset Management Inc now owns 7,730,504 shares of the bank’s stock worth $627,527,000 after buying an additional 907,963 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Canadian Imperial Bank of Commerce by 7.2% during the 2nd quarter. Acadian Asset Management LLC now owns 6,091,971 shares of the bank’s stock worth $494,364,000 after buying an additional 407,672 shares in the last quarter. Finally, Investec Asset Management LTD boosted its holdings in shares of Canadian Imperial Bank of Commerce by 2.3% during the 2nd quarter. Investec Asset Management LTD now owns 3,220,130 shares of the bank’s stock worth $261,315,000 after buying an additional 71,926 shares in the last quarter. Hedge funds and other institutional investors own 46.31% of the company’s stock.

Shares of Canadian Imperial Bank of Commerce (CM) traded down 0.40% during trading on Tuesday, reaching $88.25. The company’s stock had a trading volume of 93,669 shares. Canadian Imperial Bank of Commerce has a one year low of $72.62 and a one year high of $92.22. The firm has a market cap of $38.47 billion, a P/E ratio of 9.75 and a beta of 1.09. The stock’s 50 day moving average is $88.63 and its 200 day moving average is $83.92.

The business also recently announced a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Thursday, September 28th were issued a $1.0329 dividend. This represents a $4.13 annualized dividend and a yield of 4.66%. This is an increase from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. The ex-dividend date of this dividend was Wednesday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is 48.74%.

A number of equities analysts recently issued reports on the company. TD Securities upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Wednesday, September 6th. Zacks Investment Research upgraded Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a report on Tuesday, July 18th. Canaccord Genuity set a $117.00 target price on Canadian Imperial Bank of Commerce and gave the stock a “buy” rating in a report on Thursday, August 24th. BidaskClub cut Canadian Imperial Bank of Commerce from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Finally, Citigroup Inc. cut Canadian Imperial Bank of Commerce from a “buy” rating to a “neutral” rating and set a $120.00 target price on the stock. in a report on Wednesday, October 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. Canadian Imperial Bank of Commerce currently has an average rating of “Hold” and a consensus target price of $102.17.

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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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