Raymond James Financial Services Advisors Inc. increased its stake in shares of Canadian Imperial Bank of Commerce (NYSE:CM) (TSE:CM) by 177.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,738 shares of the bank’s stock after buying an additional 4,309 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Canadian Imperial Bank of Commerce were worth $548,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its holdings in shares of Canadian Imperial Bank of Commerce by 63.3% during the second quarter. The Manufacturers Life Insurance Company now owns 2,876,904 shares of the bank’s stock worth $233,390,000 after buying an additional 1,115,584 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Canadian Imperial Bank of Commerce by 75.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,072,552 shares of the bank’s stock worth $87,048,000 after buying an additional 462,738 shares during the last quarter. CNH Partners LLC purchased a new position in shares of Canadian Imperial Bank of Commerce during the second quarter worth about $1,165,000. Cubist Systematic Strategies LLC grew its holdings in shares of Canadian Imperial Bank of Commerce by 128.5% during the second quarter. Cubist Systematic Strategies LLC now owns 15,722 shares of the bank’s stock worth $1,276,000 after buying an additional 8,840 shares during the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of Canadian Imperial Bank of Commerce during the second quarter worth about $5,684,000. 46.31% of the stock is currently owned by hedge funds and other institutional investors.

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A number of equities analysts recently issued reports on CM shares. BidaskClub raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Canaccord Genuity started coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, July 18th. They issued a “buy” rating on the stock. Zacks Investment Research raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a report on Tuesday, July 18th. TD Securities raised Canadian Imperial Bank of Commerce from a “hold” rating to a “buy” rating and set a $120.00 price objective on the stock in a report on Wednesday, September 6th. Finally, Macquarie started coverage on Canadian Imperial Bank of Commerce in a report on Tuesday, October 24th. They issued an “underperform” rating and a $89.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Canadian Imperial Bank of Commerce presently has an average rating of “Hold” and an average price target of $108.20.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Thursday, September 28th were issued a $1.0329 dividend. The ex-dividend date of this dividend was Wednesday, September 27th. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.94. This represents a $4.13 annualized dividend and a dividend yield of 4.69%. Canadian Imperial Bank of Commerce’s dividend payout ratio (DPR) is 48.74%.

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.

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

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