K.J. Harrison & Partners Inc Purchases 2,809 Shares of Canadian Imperial Bank of Commerce (CM)

K.J. Harrison & Partners Inc raised its position in Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 9.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,066 shares of the bank’s stock after acquiring an additional 2,809 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Canadian Imperial Bank of Commerce were worth $2,798,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CM. Ameriprise Financial Inc. grew its position in Canadian Imperial Bank of Commerce by 22.6% in the first quarter. Ameriprise Financial Inc. now owns 10,757 shares of the bank’s stock valued at $927,000 after acquiring an additional 1,982 shares in the last quarter. Stifel Financial Corp grew its position in Canadian Imperial Bank of Commerce by 34.7% in the first quarter. Stifel Financial Corp now owns 4,021 shares of the bank’s stock valued at $348,000 after acquiring an additional 1,036 shares in the last quarter. PNC Financial Services Group Inc. grew its position in 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 acquiring an additional 21 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in Canadian Imperial Bank of Commerce in the first quarter valued at approximately $679,000. Finally, Dimensional Fund Advisors LP grew its position in Canadian Imperial Bank of Commerce by 4.3% in the first quarter. Dimensional Fund Advisors LP now owns 239,987 shares of the bank’s stock valued at $20,689,000 after acquiring an additional 9,819 shares in the last quarter. 46.31% of the stock is owned by institutional investors.

Several analysts have issued reports on CM shares. Zacks Investment Research raised shares of Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Canaccord Genuity started coverage on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, July 18th. They issued a “buy” rating for the company. TD Securities raised shares of Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 price objective for the company in a research report on Wednesday, September 6th. Finally, Macquarie started coverage on shares of Canadian Imperial Bank of Commerce in a research report on Tuesday, October 24th. They issued an “underperform” rating and a $89.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Canadian Imperial Bank of Commerce currently has a consensus rating of “Hold” and a consensus target price of $102.17.

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Canadian Imperial Bank of Commerce (NYSE:CM) traded down 0.4208% during mid-day trading on Tuesday, hitting $88.2272. 164,336 shares of the stock were exchanged. The company has a market cap of $38.46 billion, a P/E ratio of 9.7489 and a beta of 1.09. Canadian Imperial Bank of Commerce has a one year low of $72.62 and a one year high of $92.22. The company has a 50-day moving average price of $88.63 and a 200-day moving average price of $83.92.

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

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

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