Advisory Services Network LLC Has $2.03 Million Stake in Canadian Imperial Bank of Commerce (NYSE:CM)

Advisory Services Network LLC boosted its stake in Canadian Imperial Bank of Commerce (NYSE:CMGet Rating) (TSE:CM) by 22.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 16,663 shares of the bank’s stock after buying an additional 3,006 shares during the period. Advisory Services Network LLC’s holdings in Canadian Imperial Bank of Commerce were worth $2,028,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. CENTRAL TRUST Co bought a new position in Canadian Imperial Bank of Commerce in the 1st quarter valued at $55,000. Fieldpoint Private Securities LLC raised its position in Canadian Imperial Bank of Commerce by 143.7% in the 1st quarter. Fieldpoint Private Securities LLC now owns 519 shares of the bank’s stock valued at $63,000 after purchasing an additional 306 shares during the last quarter. CWM LLC raised its position in Canadian Imperial Bank of Commerce by 44.4% in the 1st quarter. CWM LLC now owns 572 shares of the bank’s stock valued at $70,000 after purchasing an additional 176 shares during the last quarter. Clearstead Advisors LLC raised its position in Canadian Imperial Bank of Commerce by 19.8% in the 1st quarter. Clearstead Advisors LLC now owns 798 shares of the bank’s stock valued at $97,000 after purchasing an additional 132 shares during the last quarter. Finally, Independence Bank of Kentucky raised its position in Canadian Imperial Bank of Commerce by 812.4% in the 1st quarter. Independence Bank of Kentucky now owns 1,323 shares of the bank’s stock valued at $161,000 after purchasing an additional 1,178 shares during the last quarter. Institutional investors and hedge funds own 44.32% of the company’s stock.

Canadian Imperial Bank of Commerce Trading Down 1.6 %

NYSE CM opened at $47.72 on Friday. The stock has a 50-day simple moving average of $49.40 and a 200 day simple moving average of $54.16. The company has a market capitalization of $43.17 billion, a PE ratio of 8.71, a P/E/G ratio of 2.62 and a beta of 1.01. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.14. Canadian Imperial Bank of Commerce has a 12 month low of $45.09 and a 12 month high of $66.24.

Canadian Imperial Bank of Commerce Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Wednesday, September 28th will be paid a $0.649 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 5.44%. This is a boost from Canadian Imperial Bank of Commerce’s previous quarterly dividend of $0.65. The ex-dividend date is Tuesday, September 27th. Canadian Imperial Bank of Commerce’s payout ratio is presently 47.81%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CM. StockNews.com upgraded Canadian Imperial Bank of Commerce from a “sell” rating to a “hold” rating in a research report on Thursday, September 1st. National Bank Financial dropped their target price on Canadian Imperial Bank of Commerce from C$84.00 to C$83.00 in a research report on Tuesday, August 16th. CIBC boosted their target price on Canadian Imperial Bank of Commerce from C$77.00 to C$79.00 and gave the stock an “outperform” rating in a research report on Friday, August 26th. Desjardins dropped their target price on Canadian Imperial Bank of Commerce from C$74.00 to C$73.00 and set a “hold” rating for the company in a research report on Monday, August 29th. Finally, TD Securities dropped their target price on Canadian Imperial Bank of Commerce from C$82.00 to C$78.00 and set a “buy” rating for the company in a research report on Friday, May 27th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $82.58.

Canadian Imperial Bank of Commerce Company Profile

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Canadian Imperial Bank of Commerce, a diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally. The company operates through four strategic business units: Canadian Personal and Business Banking; Canadian Commercial Banking and Wealth Management; U.S.

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

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